Section 35H in The Assam Agricultural Income-Tax Act, 1939
35H. Interest for deferment of Advance tax.
- Where, in any financial year, the assessee, who is liable to pay advance tax under Section 35 or 35A, has failed to pay such tax by the prescribed date, he shall be liable to pay simple interest at the rate of one and half percent per month with effect from the immediate next day of the day as prescribed for payment of advance tax for the respective quarter, on the unpaid amount by which the tax to be paid for the quarter falls short, till the date of full payment of such short fall: .Provided, however, that the provisions of this section shall apply only upto the end of the financial year, after which the provisions of Section 35C as renumbered, shall apply.
