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Discussion > Income Tax >

calculation of intt. u/s 234B & 234C

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[ Scorecard : 1399]
Posted On 03 August 2007 at 23:52 Report Abuse

hi all,

any one plz tell me howz to calculate interest U/s 234B & 234C.

if Total Tax payable is 28270/-

and Advance tax is as follows:

in sep   Nil

in Dec  5000

in march  10000



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M Verghese
CA Student

[ Scorecard : 52]
Posted On 04 August 2007 at 04:58

Assuming that self assessment tax is paid this month (August),

Interest u/s 234B for default in payment of advance tax is Rs.664 (1% of Rs13270 for 5 months)

Interest u/s 234C for deferment of advance tax is Rs.846

Interest u/s 234A at 1% will also be added as return is not filed by 31/07/08 (Rs.133)

I assume education cess has already been included in total tax Rs.28270.

Posted On 04 August 2007 at 06:00

hi sir, but till i m confused about calculation of intt. u/s 234B & 234C pls clarify me U/s 234C thanks

M Verghese
CA Student

[ Scorecard : 52]
Posted On 04 August 2007 at 08:14

For 234 B: Rs.28270-15000=13270*5% (1% for every month from April to August) =Rs.664 For 234 C: Sep: 8481(30% of 28270-0)*7% (sep-march)=594 Dec: 3481(30% of28270-5000)*4%(dec-march)=139 Mar: 1308(40% of28270-10000)*1%=13 Total=594+139+13=746 Im made a mistake in calculating 234C in the prev message. Hope this is clear.

CA Nikita
Chartered Accountant

[ Scorecard : 4140]
Posted On 05 August 2007 at 02:17

hey look into the share files section... there is a file contributed by me.. which makes interest calculation u/s 234B/C easier... hope this will be helpful..

M Verghese
CA Student

[ Scorecard : 52]
Posted On 10 August 2007 at 07:37

Good work with the interest calculator.Sunny here, had asked the interest calculation for individuals (3 instalments). I suggest that the logical solution also be understood for an exam point of view.

Santosh Kumar Agrawal
Article Assistant

[ Scorecard : 50]
Posted On 11 August 2007 at 22:20

Computation of Interest U/s 234B Assessed Tax - 15270/- i.e.(28270 - 15000) Rounded upto multiple of 100 (always lower side) Rs.15200/-. Interest @ 1% for 5 months Rs.660/- Computation of Interest U/s 234C Tax Liability Rs28270/- 30% Payable By Sept. Rs8481 Less: Paid Nil Short Fall 8481/- Rounded upto 8400/- Interest @ 1% for 3months 252/- 60% payable by Dec Rs. 16962/- Less; Paid Rs. 5000/- Short Fall Rs. 11962/- Rounded upto Rs. 11900/- Interest @ 1% for 3 months Rs. 507/- 100 % payable by March Rs28270/- Less: Paid Rs. 15000/- Short Fall Rs. 13270/- Rounded upto Rs. 13200/- Interest @ 1 % for 1 month Rs132/- Total Interest U/S 234C 252+507+132=891/-


[ Scorecard : 24]
Posted On 04 June 2008 at 12:32

hello madam. can you send Interest calculator tomy ID :

anji8145 @


Thanking you


have a nice day

Posted On 07 June 2008 at 13:12

Your calculation of interest under 234B is very clear and thanks for the same. I infer that 30% of tax payable needs to be deposited before end-Sept, 60% ie another 30% before end-Dec, and full 100% before end-March. Pls confirm if I am right. Assuming I am right, I fail to understand the logic of paying 1 month's interest for any shortfall in March, as interest for any any such shortfall gets charged under 234C anyway. Are we getting charged doubly for March??

Vikash Yadav

[ Scorecard : 24]
Posted On 26 June 2008 at 12:46


can any one provide me intt. calculaer for individuals u/s 234

( ID: vikashyadav1986 @ )


thanks in advance



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