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difference between 234B and 234C

bhaskaradileep v (41 Points)

31 August 2017

when assesse will pay 234B and when 234C ?
please clarify

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3 Replies

RAJA P M ("Do the Right Thing...!!!") (127705 Points)
Replied 31 August 2017

234 B: Evasion in Paying advance Tax.
234 C: Payment of Advance Tax not in Time...

(234A : Evasion in Providing late return on Income...

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Poltu Ghosh (Job) (1865 Points)
Replied 31 August 2017

Both are related to ahortfall in payment of advance tax. 234B is for shortfall of advance tax by 90% of the tax assessed. Whereas 234C is levied for shortfall in payment of instalments of advance tax,quarterly or otherwise prescribed. 234B is levied on assessed tax and 234C is levianle on returned income.