https://www.taxtmi.com/manuals?id=1458 Interest is payable where advance tax is unpaid or less than 90% of the assessed tax at simple interest of 1% per month from 1 April of the assessment year. The amount on which interest is computed is the tax determined on assessment, less reliefs and credits (sections 89/90/90A/91, MAT/AMT credits, TDS/TCS) and advance tax. Interest paid under section 140A reduces liability under section 234B, and adjustments follow consequential changes from assessment, rectification or settlement commission orders. en-us Fri, 29 Jan 2016 18:40:00 +0530 Fri, 05 Jul 2024 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1458 Interest is payable where advance tax is unpaid or less than 90% of the assessed tax at simple interest of 1% per month from 1 April of the assessment year. The amount on which interest is computed is the tax determined on assessment, less reliefs and credits (sections 89/90/90A/91, MAT/AMT credits, TDS/TCS) and advance tax. Interest paid under section 140A reduces liability under section 234B, and adjustments follow consequential changes from assessment, rectification or settlement commission orders. Manuals Income Tax Fri, 29 Jan 2016 18:40:00 +0530 https://www.taxtmi.com/manuals?id=1458