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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.
Recently the Union Ministry of Panchayati Raj organized two day National Training Workshop on People’s Plan from _____ to ______ October...
Which is the most famous folk theatre of Uttar Pradesh?
Who became the 3rd fastest Indian women in 200 m race by winning Gold medal in it?
What is the minimum denomination for issuing a Certificate of Deposit (CD)?
Which country annual Government report is known as “Yellow book”?
Which financial entity received approval from the Reserve Bank of India to operate as a Payment Aggregator-Cross Border for both imports and exports?
Kalinjar Fort is located in which district of Uttar Pradesh?
Which of the following districts of Uttar Pradesh has no poly-clinic?
Uttar Pradesh Khadi and Village Industries Board was formed in which year?
The Ministry of Defense has approved the purchase of military equipment abroad, by the three banks, name them?