02 August 2008
When Interest is due for payment under Section 115WJ (3) Rate of Interest Period of Interest Amount on which Interest u/s 115WJ (3) is payable If Advance tax paid on/ before June 15 is less than 15% of Advance Tax payable Simple Interest @ 1% per month 3 months 15% of Advance tax payable minus Advance Tax paid up to 15th June
If Advance tax paid on/ before September 15 is less than 45% Of Advance Tax payable Simple Interest @ 1% per month 3 months 45% of Advance tax payable minus Advance Tax paid up to 15th September
If Advance tax paid on/ before December 15 is less than 75% Simple Interest @ 1% per month 3 months 15% of Advance tax payable minus Advance Tax paid up to 15th June
If Advance tax paid on/ before December 15 is less than 100% Simple Interest @ 1% per month 1 month 15% of Advance tax payable minus Advance Tax paid up to 15th June
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