The liability to pay interest u/s 234B would arise when the advance tax plus TDS/TCS to the credit of the assessee is less than :

CS Executive · Tax Laws · PYQS · June 2022
The liability to pay interest u/s 234B would arise when the advance tax plus TDS/TCS to the credit of the assessee is less than :
(A) 75% of the assessed tax
(B) 90% of the assessed tax
(C) 60% of the assessed tax
(D) 100% of the assessed tax

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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