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An assessee liable to pay advance tax is not liable to pay interest under section 234B of the Income Tax Act if the advance tax paid by them is not less than 90% of the advance tax payable by them. Advance tax is a system where taxpayers are required to estimate their income for the financial year and pay taxes on a quarterly basis rather than waiting until the end of the year. Section 234B of the Income Tax Act deals with the interest charged on the shortfall of advance tax payments. If an assessee fails to pay advance tax or pays an amount less than the prescribed percentage, which is generally 90% of the advance tax liability, they may be liable to pay interest under section 234B. However, if the assessee has paid at least 90% of the advance tax payable, they will not be charged interest under this section.
Lichens are indicators of
Alteration of amino acids in sequence without altering protein function is called as
Which of the following is a biennial crop?
Fluff is the seed produced in:
Embryo of seeds, secrete_________ enzyme to induce the germination process
Which sector of Horticulture includes growing decorative lawns and sports surfaces for football, cricket, golf etc.?
Poisonous alkaloid in castor seed is
Conservation hybrid is achieved by which of the following ?
The Indian Agricultural Research Institute (IARI) recently introduced a new high-yielding wheat seed variety which is resistant to yellow, and leaf rust...
Which parasite attaches mainly to the gills of sea bass and causes hyperplasia and necrosis?