Interest payable by a non-corporate assessee for deferment of advance tax is —

CS Executive · Tax Laws and Practice · PYQS · December 2014
Interest payable by a non-corporate assessee for deferment of advance tax is —
(A) 1.03% p.m.
(B) 15% p.a.
(C) 18% p.a.
(D) 1% p.m.

Answer & Explanation:

Correct Answer: Option (D)

Correct answer: (D) 1% p.m.. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.

Topics: Income Tax Act, 1961

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