Answer

1. F

   Facts

   If your tax payable after TDS is ₹10,000 or more, advance tax was due. Short TDS from two employers usually triggers interest under Sec 234B and 234C, which is computed automatically.

2. P

   Provisions and law

   • Sec 234B, Income-tax Act 1961 (now Sec 424)Interest of 1% a month when advance tax paid, including TDS, is less than 90% of the tax assessed.
   • Sec 234C, Income-tax Act 1961 (now Sec 425)Interest of 1% a month on shortfall in advance tax instalments.
3. A

   Analysis

   With a shortfall of ₹40,000 paid in July 2026, 234B runs from April to July at 1% a month, about ₹1,600, and 234C adds interest for missed instalments. You cannot avoid it for this year, but you can avoid it next time by giving Form 12B early or paying advance tax by 15 March.

4. C

   Conclusion

   1. 1Compute the shortfall after TDS.
   2. 2Let the ITR utility compute 234B and 234C.
   3. 3Pay tax and interest together.
   4. 4Next year, give Form 12B or pay advance tax on time.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.