https://www.taxtmi.com/acts?id=4096 Interest is payable where an assessee liable for advance tax pays less than prescribed proportions by instalment dates or less than the tax shown in the return at the final instalment; such shortfall attracts simple interest on the deficiency, subject to limited reliefs and exclusions for certain under estimated incomes and where attributable tax is paid by the terminal date. The base for calculation is the tax due on the returned income, reduced by specified deductions, reliefs and tax credits. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 28 Aug 2025 17:01:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=4096 Interest is payable where an assessee liable for advance tax pays less than prescribed proportions by instalment dates or less than the tax shown in the return at the final instalment; such shortfall attracts simple interest on the deficiency, subject to limited reliefs and exclusions for certain under estimated incomes and where attributable tax is paid by the terminal date. The base for calculation is the tax due on the returned income, reduced by specified deductions, reliefs and tax credits. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=4096