13 January 2009
The provisions of all above sections (IT Act 1961) relates to the interest.
The Sec 234A relates to the interest leviable on the delay filing of return of Income by the the due date as defined u/s 139(1).
if any person fails to submit the ROI by the due date, then he has to be pay the above interest @ 1% simple interest payable per month for the period for which such default continues.
Sec 234B relates to the interest payable on the short payment og Advance Tax. if any assessee fails to pay the 90% of its assessed tax by 31st of March of the previous year to which such liability relates shall pay the above interest on the shortfall from the 1st day of AY to till the payment of Tax
234C This sec relates to the interest on deferement of the advance tax, if any assessee fails to pay the instalment of advance tax or pay short as required shall pay such interest @1% per month on such short fall
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