https://www.taxtmi.com/article/detailed?id=12415 Statutory interest provisions charge simple interest for (a) delay in filing returns-accruing monthly from the day after the due date on tax as determined until filing or assessment; (b) default or short payment of advance tax-levied monthly on the unpaid shortfall from the first day of the assessment year until determination or assessment, with adjustments for subsequent self-assessment payments and assessment-driven income increases; (c) deferment of prescribed advance tax installments-targeting specified quarterly shortfalls with narrow exemption for certain underestimated incomes if timely remedied; and (d) excess interim refunds-charging interest on excess refunds from grant until regular assessment subject to reduction where later orders validate the refund. en-us Tue, 12 Mar 2024 08:57:43 +0530 Tue, 12 Mar 2024 08:57:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12415 Statutory interest provisions charge simple interest for (a) delay in filing returns-accruing monthly from the day after the due date on tax as determined until filing or assessment; (b) default or short payment of advance tax-levied monthly on the unpaid shortfall from the first day of the assessment year until determination or assessment, with adjustments for subsequent self-assessment payments and assessment-driven income increases; (c) deferment of prescribed advance tax installments-targeting specified quarterly shortfalls with narrow exemption for certain underestimated incomes if timely remedied; and (d) excess interim refunds-charging interest on excess refunds from grant until regular assessment subject to reduction where later orders validate the refund. Articles Income Tax Tue, 12 Mar 2024 08:57:43 +0530 https://www.taxtmi.com/article/detailed?id=12415