An assessee liable to pay advance tax is not liable to pay interest u/s 234B if the advance tax paid by him is not less than
An assessee liable to pay advance tax is not liable to pay interest under section 234B of the Income Tax Act if the advance tax paid by them is not less than 90% of the advance tax payable by them. Advance tax is a system where taxpayers are required to estimate their income for the financial year and pay taxes on a quarterly basis rather than waiting until the end of the year. Section 234B of the Income Tax Act deals with the interest charged on the shortfall of advance tax payments. If an assessee fails to pay advance tax or pays an amount less than the prescribed percentage, which is generally 90% of the advance tax liability, they may be liable to pay interest under section 234B. However, if the assessee has paid at least 90% of the advance tax payable, they will not be charged interest under this section.
At the 3rd G20 Culture Working group (CWG) meeting held in Hampi, Karnataka, a new Guinness World record has been made by displaying _______ ...
Recently one of the following was in news because it got the Abel prize for the year 2022. Which option is correct?
Which state's chief minister is YS Jagan Mohan Reddy?
To honour the contribution of all the Prime Ministers of India towards nation-building, the Pradhanmantri Sangrahalaya is a tribute to every Prime Minis...
For Establishment of Intelligent Transport System on Nagpur - Mumbai Super Communication Expressway Project was signed between India and ____?
According to the report, the largest lender, State Bank of India, has an exposure of ₹______crore in Adani Group .
ONDC has partnered with which company to help small businesses in making them digitally upskilled over the next two years ?
Which university has built the first-ever subsea research lab in Asia for fostering multi-disciplinary talent for the global oil and gas industry?
Hero MotoCorp has unveiled a new brand named, __________, for its electric vehicles.
RBI’s MPC Committee has proposed some changes with respect to the Payments Infrastructure Development Fund (PIDF) scheme.The central bank is planning ...