https://www.taxtmi.com/acts?id=11868 Liability for interest arises where a taxpayer fails to pay or pays less than prescribed advance tax instalment percentages by specified due dates; simple monthly interest is charged on instalment shortfalls for the periods tied to each instalment and aggregated. Companies are subject to a separate instalment schedule with analogous interest computation. Interest is not chargeable on shortfalls caused by underestimation or failure to estimate capital gains and the specified income category, if tax on those incomes is paid in later instalments or by the statutory year-end payment deadline. en-us Fri, 17 Sep 2010 11:38:29 +0530 Fri, 17 Sep 2010 11:38:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=11868 Liability for interest arises where a taxpayer fails to pay or pays less than prescribed advance tax instalment percentages by specified due dates; simple monthly interest is charged on instalment shortfalls for the periods tied to each instalment and aggregated. Companies are subject to a separate instalment schedule with analogous interest computation. Interest is not chargeable on shortfalls caused by underestimation or failure to estimate capital gains and the specified income category, if tax on those incomes is paid in later instalments or by the statutory year-end payment deadline. Act-Rules Bills Fri, 17 Sep 2010 11:38:29 +0530 https://www.taxtmi.com/acts?id=11868