Interest for deferment of advance tax

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....ee on its current income on or before the date specified in column B of the Table below, is less than advance tax due on returned income, as specified in column C, then the assessee shall be liable to pay interest on the amount of Shortfall of advance tax as specified in column D, at the rate of interest specified in column E:- Sl.No. Due date of Instalment Advance tax due on returned inc....

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....e advance tax paid by the assessee on the current income,-- (a) on or before the 15th day of June is 12% or more of the tax due on the returned income; (b) on or before the 15th day of September is 36% or more of the tax due on the returned income. (3) An assessee who declares profits and gains as per section 58(2) (Table: Sl. No. 1 or 3) or, who is liable to pay advance tax u....

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.... (b) the assessee has paid in full, the tax payable on the said income had such income been part of total income, in any of the remaining instalments of advance tax, if any, or by the 31st day of March of the tax year. (5) For the purposes of this section "tax due on the returned income" means the tax chargeable on the total income declared in the return of income furnished by the assessee fo....