sec 234B and 234C

Hi,

Both 234B and 234C will be applicable as follows.

As per 234B section assessee is liable to pay interest @ 1% for every month or part of a month If the total amount of advance tax paid and TDS is less than 90% total tax liability for the previous year.

Section 234C mandates periodic payment of tax during the year. If you fail to pay the advance tax as per the regular time intervals said by the act then sec 234C comes into picture.For individuals the dates are 15th sep,15 dec and 15th march ( 30%,60% and 100% respectively)

Hope this clarifies your query.