https://www.taxtmi.com/circulars?id=10378 Interest under section 214 is payable only where payments were actually made as advance-tax under the statutory advance-tax scheme and exceed the tax determined on assessment. An estimate filed under the statutory estimate mechanism replaces the original demand and, if filed as nil and not revised before the last instalment date, means no advance-tax remains. Payments made after the last prescribed instalment date are not treated as advance-tax and therefore do not qualify for interest; officers must verify timing, manner of payment and any valid estimate before granting interest. en-us Fri, 10 Oct 1975 00:00:00 +0530 Fri, 17 Jun 2011 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10378 Interest under section 214 is payable only where payments were actually made as advance-tax under the statutory advance-tax scheme and exceed the tax determined on assessment. An estimate filed under the statutory estimate mechanism replaces the original demand and, if filed as nil and not revised before the last instalment date, means no advance-tax remains. Payments made after the last prescribed instalment date are not treated as advance-tax and therefore do not qualify for interest; officers must verify timing, manner of payment and any valid estimate before granting interest. Circulars Income Tax Fri, 10 Oct 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10378