Section 7C(1) in The Companies (Profits) Surtax Act, 1964
(1)Where, in any financial year, a company has paid advance surtax under section 7-A on the basis of its own estimate (including revised estimate), and the advance surtax so paid is less than eighty-three and one-third per cent of the assessed surtax, simple interest at the rate of [fifteen per cent] per annum from the 1st day of April next following the said financial year up to the date of the regular assessment shall be payable by the company upon the amount by which the advance surtax so paid falls short of the assessed surtax.
