Interest for non-payment of advance tax - Section 274

Interest at 1% per month for short-payment or non-payment of advance tax. Applicable when advance tax paid is less than 90% of assessed tax. Computed from April 1 to date of assessment.

Key provisions

• Interest at 1% per month for short-payment or non-payment of advance tax. Applicable when advance tax paid is less than 90% of assessed tax. Computed from April 1 to date of assessment.

Use via API

curl https://api.thynktax.com/v1/tax-law/sections/by-2025-ref/274

{
  "act_2025_ref": "274",
  "old_reference": "Section 234B, Income Tax Act 1961",
  "title": "Interest for non-payment of advance tax - Section 274",
  "category": "Section",
  "limit_or_rate": "-",
  "applicable_to": "-",
  "effective_from": "2026-04-01"
}