Interest and penalty on advance tax shortfall

Ramesh (SVP) (45 Points)

27 November 2024  

The advance tax to be paid in June, srp, Dec and Mar is 5%,45%, 75% and 100% of tax due respectively. 

if I make a gain of 5Lajs due to sake of equity or debt say in Nov of the year of tax  payment, which I was not aware of it in June or Sep. so advance tax paid then was lower than the required proportion. So will I incur penalty and interest for this shortfall in the advance tax paid.  

How is the penalty and interest calculated ?