Whether interest for short and late payment of advance tax is applicable if it is paid in pursuance of an order issued by the Assessing Officer?

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ROHAN 5 months 1 Answer 55 views 0

Answer ( 1 )

  1. If you fail to pay Advance Tax or pay at less than stipulated rates, you will be required to pay Interest & Penalty under section 234B & 234C of the Income Tax Act, 1961.
    Therefore, even if assesse pays advance tax as per the order under section 210, he shall still be liable to pay interest under section 234B and 234C if advance tax is not paid as per section 234B and 234C.

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