Dear Sir/Madam
Can u suggest How can I calculate interest Under section 234B & 234C on 236566.00 Assessment Year 2008-09 Advance Tax paid date is 20000/- June-15, 2007, 100000/- Dec.-15,2007 & 50000/- Up to 31 August 2008
Rahul Jain
(service)
(42 Points)
Replied 04 September 2008
Originally posted by :Guest | ||
" | Dear Sir/Madam Can u suggest How can I calculate interest Under section 234B & 234C on 236566.00 Assessment Year 2008-09 Advance Tax paid date is 20000/- June-15, 2007, 100000/- Dec.-15,2007 & 50000/- Up to 31 August 2008 |
" |
What is your taxable income ... ..below calculation is based on you taxable income is more than 10 Lakh
Net Tax - 236566
Edu cess - 7096
Surcharge - 23656
Tax paid till sep 07 - 20000
Tax paid till dec 07 - 100000
tax paid till mar 07 - 50000 (not mentioned ...i am assuming)
-------------------
Balance Tax = 97256
-----------------------------------
Interest U/S 234B - 5835
interest U/S 234C - 3159
interest U/S 234A - 1945
----------------------------------
Calculation is made under assumption that it will be paid before 30th Sep .
Thanks with Regards,
Rahul Jain
mail Id - rahul_jain_81 @ rediffmail.com
Rahul Jain
(service)
(42 Points)
Replied 06 September 2008
Originally posted by :Guest | ||
" | taxable amount is Rs.14088/- how to calculate U/s 234A and U/s234B | " |
To calculate interest U/S 234A and 234B, i need detail information, total taxable amount, tax paid in sep07, oct-dec 07, jan-mar07 ....
Rahul Jain
(service)
(42 Points)
Replied 06 September 2008
To calculate interest U/S 234A , 234B,
U/S 234 , (balance tax * no of month after 31th july )*1/100
U/s 234B , (balance tax *no of month after mar to till date)*1/100
Originally posted by :Guest | ||
" | Dear Sir My total tax liability for the AY 2008-09 is Rs . 52761/-. so tell me the interest U/s 234B and 234 C and how to calculate it. Regards gauri |
" |
Rahul Jain
(service)
(42 Points)
Replied 09 September 2008
Originally posted by :Guest | ||
" |
Then only i will be able to calculate your tax U/S 234B, 234C and 234A |
" |
Girish Kumar S N
(Accounts Manager)
(20 Points)
Replied 18 September 2008
Please send me 234b & c calculation
sonu jain
(accountatnt)
(20 Points)
Replied 21 September 2008
hi all,
any one plz tell me howz to calculate interest U/s 234B & 234C.
if Total Tax payable is 309599/-
and Advance tax is as follows:
in sep 25000/-
in Dec 75000/-
in march 125000
tcs & tds rs. 4893
thanks s
regards
sonujain
Rahul Jain
(service)
(42 Points)
Replied 22 September 2008
Originally posted by :Guest | ||
" | hi all, any one plz tell me howz to calculate interest U/s 234B & 234C. if Total Tax payable is 309599/- and Advance tax is as follows: in sep 25000/- in Dec 75000/- in march 125000 tcs & tds rs. 4893 thanks s regards sonujain |
" |
Hi,
You have not mentioned your total taxable income, anyway, here is your interest
Total tax payable - 309599 (Including edu chrg+sur charge, i guess)
Interest U/S 234A - 1690
Interest U/S 234B - 5070
Interest U/S 234C - 5455 (INR)
You have to pay interest U/S 234A also, beause your have balance tax after 31st July 2008.
Further querries are welcome , can reach me at my personal mail id rahul_jain_81 @ rediffmail.com
Amritansh
(Chartered Accountants)
(47 Points)
Replied 24 September 2008
Hello,
For interest calculation u/s 234B and 234C first tell me the status of the assessee.
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