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of <h1>Section 425: Interest rules for shortfall in advance-tax instalments, safe-harbours, exceptions for late income, dividends, computation clarifications</h1> Section 425 imposes interest where advance-tax instalments fall short of staged percentages due 15 June, 15 September, 15 December and 15 March, charging 3% on interim shortfalls and 1% on the final instalment, with safe-harbours of 12% by June and 36% by September; certain late-arising incomes (capital gains, specified item under section 2(49)(n), first-time business/profession profits, dividends) are excepted if taxed in later instalments or by 31 March, and a 1% rule applies to specified declarants under subsection (3). The enacted Act narrows and clarifies computation by detailed cross-references to section 206 sub-clauses, adds a tailored definition of 'dividend' excluding one sub-clause, and rephrases shortfall timing without changing instalment percentages.
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