Muhammed Hussain (Articles) (39 Points)
28 January 2012Dear Freinds,
I want to clculate interst u/s 234 B for the AY 2010-11 (Return filed on 22.07.2011)
Total Tax Liability (after deducting TDS Rs. 208315) = 206077
I paid Rs. 190,000 on 31.03.2011 and Rs. 65239 on 22.07.2011 ie on filing date.
Kindly help me to calculate the exact 234B interst after taking in to consideration of the above facts....
Thank you
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 28 January 2012
Fill your data in the attached file.....
It may help you......
GOPAL AGGARWAL
(DOING NOTHING)
(1339 Points)
Replied 28 January 2012
IN MY THERE IS NO LIABILITY AS THE TAX PAID BEFORE 31.03.11 IS MORE THAN 10%
I THINK U HAVE MENTIONED WRONG ASSESSMENT YEAR AS 10-11 INSTEAD OF 11-12
IF I AM WRONG i.e. A/Y 10-11 THEN U HAVE TOPAY INTT ON TAX PAYABLE @ 1% FROM THE 01.04.10 TO TILL DATE OF PAYMENT OF TAX
Muhammed Hussain
(Articles)
(39 Points)
Replied 29 January 2012
Dear Gopal Agarwl....what I mentioned in my Question is true.
GOPAL AGGARWAL
(DOING NOTHING)
(1339 Points)
Replied 29 January 2012
then simply calculate the intt @ 1% from 01.04.10 upto 31.03.11 on full amount after that 1% on the balance amount
CAclubindia
