I sold some debt mutual fund units in April 2020. Got some capital gain from that transaction. I realized I should pay advance tax for that debt fund gain. So I paid advance tax in Jan 2021. Now today while filing return I am seeing some amount to pay under "Interest for deferment of advance tax (section 234C)".
Can someone explain why I am getting interest amount to pay?
It is for the delay in deposit of advance tax.
Thank you both for your reply. I will remember from this year to pay advance tax in the same quarter in which I will get capital gain.
Interest under section 234C is imposed when there is a delay in payment of an instalment of advance tax. You pay interest under Section 234C if, Advance Tax is paid on or before 15th June is less than 12% of Assessed Tax
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