Penalty on late payment of income tax on a small amount

This discussion clarifies the penalty for late income tax payments when the tax liability is small. It explains that interest under sections 234B and 234C is only applicable if the total tax liability exceeds Rs. 10,000. Therefore, for a small tax amount like the one mentioned, no interest penalty would be incurred. The timing of payment, whether now or during ITR filing, makes no difference in this specific scenario as no penalty is due.