Question

If an assese fails to pay advance tax as required under it act or the advance tax paid by him is less thab of the assesed tax he shall be liable to what amount of tax us 234 b

Answer 1

interest is levied Honda City under section 234 be if there is a no payment or short payment of advance tax . if the advance tax paid is less than 90% of total tax liability ,u/s 234 B interest is applicable.

interest is levied @ 1% simple interest for every month or part of the month.