https://www.taxtmi.com/circulars?id=8347 The Act imposes a surcharge on advance tax payable by companies for the financial year, to be self-paid by the due date and treated as payment of income-tax for the assessment year with credit for self-assessment, provisional and regular assessment; non-payment makes the company a assessee in default, liable to simple interest and subject to penalty and recovery provisions under the tax law with necessary modifications. The surcharge is a distinct levy and is not to be regarded as part of advance tax for the purpose of advance-tax specific interest and penalty calculations. en-us Tue, 08 Feb 1972 00:00:00 +0530 Thu, 02 Dec 2010 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8347 The Act imposes a surcharge on advance tax payable by companies for the financial year, to be self-paid by the due date and treated as payment of income-tax for the assessment year with credit for self-assessment, provisional and regular assessment; non-payment makes the company a assessee in default, liable to simple interest and subject to penalty and recovery provisions under the tax law with necessary modifications. The surcharge is a distinct levy and is not to be regarded as part of advance tax for the purpose of advance-tax specific interest and penalty calculations. Circulars Income Tax Tue, 08 Feb 1972 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8347