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Amendment of section 234C.

Section 91 - Act - DIRECT TAXES - Finance Act - Section 91 - 91. In section 234C of the Income-tax Act, in sub-section (1), with effect from the 1st day of June, 2016,- (i) for clause (a), the following clause shall be substituted, namely:- (a) an as .....

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on or before the 15th day of June is less than fifteen per cent. of the tax due on the returned income or the amount of such advance tax paid on or before the 15th day of September is less than forty-five per cent. of the tax due on the returned inc .....

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th for a period of three months on the amount of the shortfall from fifteen per cent. or forty-five per cent. or seventy-five per cent., as the case may be, of the tax due on the returned income; (ii) the advance tax paid by the assessee on the curre .....

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e: Provided that if the advance tax paid by the assessee on the current income, on or before the 15th day of June or the 15th day of September, is not less than twelve per cent. or, as the case may be, thirty-six per cent. of the tax due on the retur .....

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l from the tax due on the returned income , the following shall be substituted, namely:- an eligible assessee in respect of the eligible business referred to in section 44AD, who is liable to pay advance tax under section 208 has failed to pay such t .....

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