Interest for default in payment of installments of advance tax is levied u/s
Interest for default in payment of installments of advance tax is levied under section 234C of the Income Tax Act. Section 234C applies when an assessee is required to pay advance tax in installments during the financial year but fails to do so or pays an amount less than the prescribed amount for each installment. The provision aims to encourage timely payment of advance tax and penalizes the assessee for delaying or underpaying the installments. It ensures that the government receives a steady flow of tax revenue throughout the year rather than waiting until the end of the financial year.
Consider the following statements: According to Census 2001
1. The literacy rate increase for males is more than that of the females during la...
Which tourist destination from amongst the following will be developed as an international destination for tourism according to the Budget 2002-03?
The average age of 20 girls is 54 years. If the age of two more girls is added the average decreases by half a year. What is the sum of the age of new g...
Which is the correct chronology of the excavation of the site in the Indus civilization?
I. Mohenjo-Daro
II. Chanhudaro
III. Harapp...
Auditors use ______ to gather information and determine if they need to conduct substantive testing. Sometimes, they can use analytical methods alone t...
(210/3)% of the raindrops could have been collected, when 3 cm of rain has fallen on a part of land of area 2 km2, in a tank having a 200 m Ã...
Consider the following statements in regards to Poshan Pakhwada:
1. Poshan Pakhwada is celebrated in the month of March for 15 days
2...
Indian Constitution declares which of the following are fundamental to the governance of the country?
1. Fundamental Rights
Who developed the concept of liquidity preference?
Every factory that has more than _____ workers shall provide and maintain a canteen.
