Interest on Income Tax

Filing of Return after due date u/s 234A

Interest @ 1 % per month or part of the month from the end of Due Date for filing of return till the date of furnishing of return

Default in payment of Advance Tax u/s 234B

Interest @ 1 % per month or part of the month from the 1st day of April next following such financial year to the date of determination of total income u/s 143(1) and where there is regular assessment, to the date of such regular assessment. 

Interest is payable if Advance Tax paid by the assesse during the previous year is less than 90 % of the assessed tax.

Deferment in payment of Advance Tax u/s 234C

Interest @ 1 % per month or part of the month on the deficit amount as applicable. 

Interest is payable if Advance Tax paid on due date is less than specified percentage.