Interest for defaults in payment of advance tax.

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.... or (b) the advance tax paid by such assessee under the provisions of section 406 or 407 is less than 90% of the assessed tax, the assessee shall be liable to pay simple interest at the rate of 1% for every month or part of a month, for the period, beginning from the 1st April following such tax year-- (i) upto the date of determination of total income under section 270(1); an....

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....wed under section 157; (c) any relief of tax allowed under section 159(1) on account of tax paid in a country outside India; (d) any relief of tax allowed under section 159(2) on account of tax paid in a specified territory outside India referred to in that section; (e) any deduction, from the Indian income-tax payable, allowed under section 160, on account of tax paid i....

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....under section 266 or otherwise,- (a) interest shall be calculated as per the foregoing provisions of this section up to the date on which the tax is so paid, and reduced by the interest, if any, paid under section 266 towards the interest chargeable under this section; (b) thereafter, interest shall be calculated at the rate aforesaid on the amount by which the tax so paid togeth....

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....utation; B = tax on total income determined on the basis of reassessment or recomputation; C = tax on total income determined under section 270(1) or regular assessment as referred to in sub-section (1). (6) Where, as a result of an order under section 287 or 288 or 359 or 363 or 365(10) or 368 or 377 or 378, the amount on which interest was payable under sub-section (1) or (3) has been increas....