From which Assessment Year, can interest u/s 234C be levied ?
Manjunatha (Self Employed) (43 Points)
05 December 2017From which Assessment Year, can interest u/s 234C be levied ?
Manjunatha
(Self Employed)
(43 Points)
Replied 05 December 2017
Thank you for the reply.
Is the limit 10,000/- only, even then?
Sarath Rajendran
(Nil)
(2791 Points)
Replied 05 December 2017
Manjula Moorthy
(Qualified CS CA Finalist)
(209 Points)
Replied 05 December 2017
| Originally posted by : Manjunatha | ||
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Thank you for the reply. Is the limit 10,000/- only, even then? |
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I think you are confusing 2 sections..U/S 234B interest on non-payment of advance tax liability is paid (i.e. if you tax liability crosses Rs. 10,000 then you pay advance tax) and u/s 234C in case u fail to pay the prescribed installment on time intervals or 90% of the liability on prescribed intervals, interest on short-fall would be charged...
In case you have any other query do feel free to ask me...
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 05 December 2017
Manjula Moorthy
(Qualified CS CA Finalist)
(209 Points)
Replied 06 December 2017
That is the advance tax limit right?
RAMAKRISHNAN R
(INCOME TAX OFFICER)
(1736 Points)
Replied 06 December 2017
Manjula Moorthy
(Qualified CS CA Finalist)
(209 Points)
Replied 06 December 2017
That i knw. i assume i misunderstood the question.
CAclubindia
