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Interest u/s 234 c

Hitesh Kumar Bansal (Consultant) (46 Points)

18 June 2013

Assessee Paid Advance Tax Installment on 19.12.2011 which was due to be paid on 15.12.2011.

Please Answer whether interest would be charged for 1 month or the entire period of 3 months...??

#Regards

HK Bansal

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5 Replies

CA Suraj Prasad Shaw (Chartered Accountant) (504 Points)
Replied 18 June 2013

Interest will be charged for one month.

CA D.C. Bansal (Accounts Head) (283 Points)
Replied 25 June 2013

You will have to pay interest for the One Month.

Member (Management) (325 Points)
Replied 25 June 2013

Think it will be 3 months interest. Only if the shortfall occurs on 15th March and the same is made good by 31st March, interest will be for one month.

(Guest)

I agree with member.. 3 months

Hitesh Kumar Bansal (Consultant) (46 Points)
Replied 26 June 2013

Thanks Dear friends.
I recd a confirmation msg from the deptt. that in such cases, interest is charged for full 3 months period.
And the payment so made is considered as Advance Tax for the subsequent installment.

# Thanks
Hk Bansal