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      Question

      Interest payable by a non-corporate assessee for

      deferment of advance tax is
      A 1.03% p.m. Correct Answer Incorrect Answer
      B 15% p.a. Correct Answer Incorrect Answer
      C 18% p.a. Correct Answer Incorrect Answer
      D 1% p.m. Correct Answer Incorrect Answer
      E 2% p.m Correct Answer Incorrect Answer

      Solution

       "Taxpayers who defer their advance tax payments in India are typically subject to an interest rate of 1% per month. This interest is applied for the delay in paying advance tax installments as per the prescribed schedule. It's essential for non-corporate assesses to meet their advance tax obligations on time to avoid incurring this interest charge." 

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