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[Cites 0, Cited by 0] [Section 11] [Entire Act]

Union of India - Subsection

Section 11(2) in The Interest-Tax Act, 1974

(2)Interest-tax shall be payable in advance in three instalments during each financial year, the due date of, and the amount payable in, each such instalment being as specified in the following tableTABLE
Due date of instalment Amount payable
On or Before the 15thSeptember Not less than twenty percent of such interest – tax payable in advance.
On or Before 15thDecember Not less than fifty percent of such interest - tax payable at advance, as reduced by the amount, if any, paid in earlier instalment.
On or Before 15thMarch The whole amount of such interest – tax payable in advance as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments.
Provided that any amount paid by way of interest - tax payable in advance on or before the 15th March The whole amount of such interest-tax payable in advance as reduced by the amount or amount, if any, paid in the earlier instalment or instalments