Section 26D in The Bengal Agricultural Income-Tax Act, 1944
26D. [ Short payment of advance tax] [Sections 26C to 26G added by W.B. Act 15 of 1983.]. -
(1)Where in any financial year, an assessee has paid advance tax under section 26A or section 26B and the advance tax so paid is less than eighty per centum of the tax determined on regular assessment under section 25, simple interest at the rate of two per centum for each English calendar month from [the first day of the month next following the prescribed date of payment of the last instalment of the advance tax] [Words substituted by W.B. Act 3 of 1998.] up to the month prior to the month of such regular assessment shall be payable by the assessee upon the amount by which the advance tax paid falls short of the tax determined on regular assessment.(2)Where before the date of completion of a regular assessment, tax is paid by the assessee under section 24A or otherwise,-(i)interest shall be calculated in accordance with the foregoing provision up to the month prior to the month in which tax is so paid; and(ii)thereafter interest shall be calculated under sub-section (1) on the amount by which the tax so paid falls short of the tax determined .on regular assessment.
