Section 234C → Section 272
Interest for deferment of advance tax
Quick Answer
Section 234C of the Income Tax Act, 1961 (Interest for deferment of advance tax) corresponds to Section 272 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 234C
Provision Summary
Interest for missing or underpaying specific quarterly installments of advance tax.
Sec 272
Provision Summary
Retained. No interest is levied if the shortfall is due to an unexpected Capital Gain or Virtual Digital Asset profit, provided tax is paid in the remaining installments.
Key Changes & Highlights
- Protection for unexpected Crypto/Stock market gains explicitly maintained.
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Frequently Asked Questions
What does Section 234C of the Income Tax Act 1961 deal with?
Section 234C (Interest for deferment of advance tax) Interest for missing or underpaying specific quarterly installments of advance tax.
What is the new section number for Section 234C under the Direct Tax Code 2025?
Section 234C of the ITA 1961 maps to Section 272 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 234C under the new tax code?
Section 234C is marked as "Retained" with status "Active". Impact: High - Essential logic for quarterly tax planning.
What are the key changes to Section 234C under DTC 2025?
Protection for unexpected Crypto/Stock market gains explicitly maintained.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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