Interest for deferment in instalments of Advance Tax - Section 234C

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....ay such tax or has made late payment of advance tax, then asessee shall pay the interest u/s 234C as under:- Circumstances in which interest is payable u/s 234C Rate of interest Period Amount on which interest is to be paid When advance tax paid on or before 15th June is less than 15% of tax due on returned income Simple interest @ 1% p.m. 3 months 15% of tax due on returned income m....

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.... and second Quarter if short payment is upto specified Limit * if the advance tax paid by the assessee on the current income, * on or before the 15th day of June is not less than 12% or, * on or before the 15th day of September is not less than 36% * of the tax due on the returned income, then, the assessee shall not be liable to pay any interest on the amount of the shortfall on those dat....