Chargeable of interest u/s 234b and 234c

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Querist : Anonymous

Querist : Anonymous (Querist)

24 October 2014 Sir, Please clarify the following issue: Assesse filed Income Tax Returns for Assessment Year 2014-15 in Form 4S for presumptive income declared u/s 44AD. He has also having House Property Income and Other Income also. He has paid self assessment tax of Rs25000/- and filed the return before due date i.e.31/07/2014. He has not paid any advance tax. Is he liable to pay advance tax u/s 44AD and he is liable to pay interest u/s 234B and 234C. In assessment order Income tax department send notice to pay interest u/s 234C. Return is filed with in due date i.e.31/07/2014. Please give reply the assessment order is justified. If not justified what steps to take to against order passed. Please give the solution for the above issue and give reply immediately with out fail

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 October 2014 Seems assessment order is justifiable since income under the heads 'HP and OS'attracts advance tax provisions.

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Querist : Anonymous

Querist : Anonymous (Querist)

24 October 2014 Sir,
Thank for your reply. Please give the procedure after paying the demanded amount as per assessment order. How to file and how to intimate to the IT Department? Kindly give the further steps.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 October 2014 Pay the amount using challan ITNS 280 in which tick 'tax applicable' code 0021 and 'tax payment' as 'tax on regular assessment'. Nothing more to do.

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Querist : Anonymous

Querist : Anonymous (Querist)

29 October 2014 Sir,
Thank you for your reply. We have paid the tax. We are having enthusiasm to see the above issue in IT Act. Please can you reproduce the notification or any thing else