Answer

1. F

   Facts

   Under the presumptive scheme, the full advance tax can be paid in one instalment by 15 March. If not paid, interest under Sec 234B and 234C (now Sec 424 and 425) applies.

2. P

   Provisions and law

   • Sec 211, Income-tax Act 1961 (now Sec 408, Income-tax Act 2025)Advance tax instalments: 15% by 15 June, 45% by 15 September, 75% by 15 December, 100% by 15 March; presumptive filers pay all by 15 March
   • Sec 234C, Income-tax Act 1961 (now Sec 425, Income-tax Act 2025)Interest at 1% a month for short or late advance tax instalments
   • Sec 234B, Income-tax Act 1961 (now Sec 424, Income-tax Act 2025)Interest at 1% a month if advance tax paid is below 90% of assessed tax
3. A

   Analysis

   Example: expected deemed income ₹20 lakh with tax of about ₹2 lakh; pay by 15 March 2026 for FY 2025-26. Missing it adds about 1% a month on the unpaid amount from April under Sec 234B, plus Sec 234C for March. For tax year 2026-27, the same rule continues under Sec 408 of the Income-tax Act 2025.

4. C

   Conclusion

   1. 1Estimate income by February
   2. 2Compute tax for the year
   3. 3Pay advance tax by 15 March
   4. 4Enter the challan in your return

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