query on Advance Tax

If you pay 90% of your total tax payable after TDS on or before 31st March you can avoid interest u/s 234B. However interest u/s 234C would be levied for deferment of advance tax

234C will be levied for deferrement of tax

234C would be applicable even though you pay 100% amount only on last installment date i.e.15th March.

Yes 234B and C will apply in this case on the total tax payable since no advance tax was paid during the relevant previous year.234A is interest on delayed filing.

Dear Suyash,

234A: Appiles for default of furnishing ROI

234B : Appiles for default of payment of Advance Tax, which is less than 90% of tax liability by 31.03.20XX

234C: Appiles for default of not fulfilling the crieria of certian % of amount during the Quarter ends.

Tax planning here is,

If you have not paid Adv tax at all in any of the due dates as mentioned in 234C, still you can completely avoid 234B & 234A by paying it atleast on 31.03.20XX. However 234C is unavoidable.

Thank you all