Compute 234B/234C interest
compute_interest_234Calculate interest under sections 234B and 234C on advance tax shortfalls using statutory rates and Rule 119A rounding.
Instructions
Deterministic sections 234B and 234C interest on advance-tax shortfalls. 234B: 1%/month on assessed-minus-advance when advance < 90% (from 1 April of the AY). 234C: per-installment shortfalls with the statutory 12%/36% safe harbors for June/September. Rule 119A rounding applied (principal floored to Rs 100, part month = full month).
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| fy | No | 2025-26 | |
| assessedTax | Yes | Tax on total income minus TDS/TCS and reliefs, in INR | |
| presumptive | No | 44AD/44ADA: single 100% installment by Mar 15 | |
| monthsFor234B | No | Months from 1 April of the AY to payment/assessment (part month = full month) | |
| advanceTaxPaid | No | Total advance tax paid during the FY | |
| cumulativePaid | No | Cumulative advance tax paid by Jun 15 / Sep 15 / Dec 15 / Mar 15, for 234C |