Amendment of section 115WJ

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....ll be payable by - (a) all the companies, who are liable to pay the same in four instalments during each financial year and the due date of each instalment and the amount of such instalment shall be as specified in Table I below. Table-I Due date of instalment Amount payable On or before the 15th June Not less than fifteen per cent. of such advance tax. On or before the 15th S....

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....h September Not less than thirty per cent. of such advance tax. On or before the 15th December Not less than sixty per cent. of such advance tax as reduced by the amount, if any, paid in the earlier instalment. On or before the 15th March The whole amount of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments. (5) Where an a....

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.... 15th December of the financial year falls short of seventy-five per cent. of the advance tax payable; and (iv) one per cent. on an amount by which the advance tax paid on or before the 15th March of the financial year falls short of hundred per cent. of the advance tax payable. (4) Where an assessee, being a person other than a company, has failed to pay the advance tax payable by him on or....