ITR
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Agreeing means CPC adds the amount and issues an intimation with tax, interest and a demand. Interest under Sec 234B keeps running at 1% a month until the tax is assessed. You can pay as self-assessment tax now or pay the demand once the intimation comes.
Sec 143(1)(a) (now Sec 270(2)); Sec 234B (now Sec 424); Sec 234C (now Sec 425); Sec 156 (now Sec 289)
Take an example: ₹50,000 of unreported interest for a person in the 20% slab under the old regime is ₹10,400 of tax with cess. Sec 234B interest at 1% a month runs from 1 April of the assessment year, so a few months add a few hundred rupees, and Sec 234C may add a little more. If you pay before the intimation, use e-Pay Tax with minor head 300 (self-assessment tax) and the right assessment year so CPC can match it. Otherwise pay the demand under Sec 156 (now Sec 289) shown in the intimation.
Paying under the wrong assessment year or minor head leaves the demand open and needs a correction request.
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