alleryStart learning →For how long does 234C interest run on the first three instalments?
AThree months at 1% a month
BTwelve months at 1% a month
COne month at 1% in all
DSix months at 1% a month
Answer & Solution
Correct answer: A. Three months at 1% a month
The June, September and December shortfalls carry one per cent per month for a fixed three months.
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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?