234c

Suresh Pai S (Tax Consultant) (1029 Points)

06 June 2017  

Provided that if the advance tax paid by the assessee on the current income, on or before the 15th day of June or the 15th day of September, is not less than twelve per cent or, as the case may be, thirty-six per cent of the tax due on the returned income, then, the assessee shall not be liable to pay any interest on the amount of the shortfall on those dates.

 

What is the meaning of these wordings in section 234C?