https://www.taxtmi.com/acts?id=51970 Interest is chargeable for deferment of advance tax where an assessee liable to pay advance tax fails to pay it, or pays less than the advance tax due on returned income by the specified instalment dates. The provision prescribes staged liability at 3% for shortfalls up to 15 June, 15 September and 15 December, and 1% for shortfall up to 15 March, with corresponding percentages of tax due on returned income set for each due date. en-us Thu, 14 Aug 2025 18:24:08 +0530 Mon, 06 Apr 2026 13:21:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51970 Interest is chargeable for deferment of advance tax where an assessee liable to pay advance tax fails to pay it, or pays less than the advance tax due on returned income by the specified instalment dates. The provision prescribes staged liability at 3% for shortfalls up to 15 June, 15 September and 15 December, and 1% for shortfall up to 15 March, with corresponding percentages of tax due on returned income set for each due date. Act-Rules Income Tax Thu, 14 Aug 2025 18:24:08 +0530 https://www.taxtmi.com/acts?id=51970