Section 234B ITA 1961 prescribes INTEREST FOR DEFAULT IN PAYMENT OF ADVANCE TAX:

1. Section 234A — interest for LATE FILING OF RETURN at 1% per month from due date until filing. 2. Section 234B — INTEREST FOR DEFAULT in ADVANCE TAX PAYMENT — 1% per month from 1 April of AY until tax is paid; applies if advance tax paid is less than 90% of assessed tax. 3. Section 234C — interest for DEFERMENT in advance tax instalments — quarterly interest at 1% for shortfall. 4. Section 220 — interest for delayed tax payment: 1.5% per month after notice of demand. 5. The TRIPLE (234A + B + C) creates significant cost of non-compliance. 6. Hence option B is correct. _Source: CS Executive Paper 4 Tax Laws (ICSI BoS) + Income Tax Act 1961 + CGST Act 2017 — Income Tax Act 1961, Sections 234A, 234B, 234C_