<s>[INST] How to calculate interest under section 234C? [/INST] When is interest payable?	Period of interest	Amount on which interest shall be payable
If the advance tax paid on or before June 15 is less than 12% of the assessed tax	3 months	15% of assessed tax less tax deposited on or before June 15
If the advance tax paid on or before September 15 is less than 36% of the assessed tax	3 months	45% of assessed tax less tax deposited on or before September 15
If the advance tax paid on or before December 15 is less than 75% of the assessed tax	3 months	75% of assessed tax less tax deposited on or before December 15
If the advance tax paid on or before March 15 is less than 100% of the assessed tax	1 month	100% of assessed tax less tax deposited on or before March 15​ </s>