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Advance tax

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(Querist)
23 July 2013 I want to know how interest on non payment of advance tax is calculated.
Suppose assessee has a final tax liability of Rs 20 lakhs & he has not paid a single rupee as advance tax. so how interest will be calculated?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
23 July 2013 It will be 1% simple interest per montn in each section .Sec.234B & Sec.234C calculator are there in files section. you can download and use
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