Interest-Tax Act, 1974

Section - 11 - Advance payment of interest-tax

[Advance payment of interest-tax.

11. (1) Interest-tax shall be payable in advance during the financial year in respect of the chargeable interest for the assessment year immediately following that financial year in accordance with the provision of this section.

(2) Interest-tax shall be payable in advance in three instalments during each financial year, the due date of, and the amount payable in, each such instalment being as specified in the following Table :

TABLE

Due date of instalment

Amount payable

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