19 April 2019
If 15% of the amount is already deposited on or before June 15, and advance tax is less than 12%, then an interest of 1% per month for three months is levied. In case 45% of the tax is deposited on or before September 15, and advance tax is less than 36%, a penalty for 3 months is charged at 1% of the interest per month. When 75% tax is paid before December 15, and payable amount is less than 75%, 1% simple interest per month is computed for a period of 3 months. When advance tax to be paid is less than 100% of the amount already paid as tax, then a simple interest of 1% is charged.
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