An assessee liable to pay advance tax is not liable to pay interest u/s 234B, if advance tax paid by him is not less than —

CS Executive · Tax Laws and Practice · PYQS · December 2014
An assessee liable to pay advance tax is not liable to pay interest u/s 234B, if advance tax paid by him is not less than —
(A) 90% of advance tax payable by him
(B) 80% of advance tax payable by him
(C) 100% of advance tax payable by him
(D) 70% of advance tax payable by him.

Answer & Explanation:

Correct Answer: Option (A)

Correct answer: (A) 90% of advance tax payable by him. 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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