234A interest

1. Interest u/s 234A @ 1% will need to be payable on the Net tax liability payable after deduction of TDS and advance tax. 
2. If your IT comes to Rs. 50,000 and you have a credit of Rs. 30,000 in TDS and Rs. 15,000 in advance tax, interest u/s 234A will need to be paid on the balance Rs. 5,000 @ 1% p.m for every month or part of a month from the due date for filing the ROI until the return is filed.  
Please correct me if the above solution has an alternative view.