Interest Payable Under Income Tax Act

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DefaultPenal Interest RateMore Details
Filing of return after due date u/s 234AInterest @ 1% pm or part of the month from the end of due date for filing of returnDetails
Defaults in payment of advance tax u/s 234BInterest @ 1%  pm or part of the month from the 1st day of April of the Assessment YearDetails
Deferment in payment of advance tax u/s 234CInterest @1% pm or part of the month on the deficit amount as applicableDetail
Failure to deduct and pay TDS u/s 201(1A)Interest @1% pm or part of month upto date of deduction/date of furnishing ITR and @1.5% from date of deduction to paymentDetails

 

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