alleryStart learning →By 15 December, cumulative advance tax must reach what share of tax due to avoid 234C?
A100 percent
B90 percent
C60 percent
D75 percent
Answer & Solution
Correct answer: D. 75 percent
The December instalment brings cumulative payment to seventy-five per cent of the tax due on the returned income.
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Related questions
Section 234F applies to returns for which assessment years?As worded in section 234F, total income is Rs 8 lakh and the return is filed on 20 DecembeAs worded in section 234F, an individual with total income Rs 4,50,000 files after 31 DeceTax due Rs 2,00,000; Rs 1,20,000 paid by 15 Dec. 234C interest on that shortfall?Tax due on the returned income in 234C is tax on income declared where?Under-estimating which income does not attract 234C if paid in later instalments?Who pays advance tax in a single instalment by 15 March under 234C?A June shortfall escapes 234C if advance tax paid is at least what share?