Interest u/s 234a,234b & 234c

Pages : 1

Anuj Shah
Article

[ Scorecard : 24]

Posted On 19 June 2012 at 14:29

A.Y. 2011-12

Presumptive income u/s 44AD - Rs 270337

Long Term Capital Gain - Rs 34429

Income from Other Sources - Rs 32996

Tax on above income - Rs15830

Date of filing of return - 31/03/2012

Date of deposit of tax - 30/03/2012

QUERY

Whether I am liable to pay ADVANCE TAX?

If yes than what is amount of interest u/s 234B & 234C

Giridhar S Karandikar
Team Lead

[ Scorecard : 2683]

Posted On 19 June 2012 at 15:01

Attached is the calculation of Interest.

Attached File : 681651 999096 interst calculation.xlsx downloaded 593 times

S Sivasalapathy
Job

[ Scorecard : 259]

Posted On 19 June 2012 at 15:26

Sec234b & c is only applicable to company & firm. Individual need not to pay advance tax.

Gajendra R. Tiwari
Senior Manager-Accounts & CA IPCC Student

[ Scorecard : 394]

Posted On 19 June 2012 at 15:45

No, U will not be liable for payment of Advance tax as Presumptive income u/s 44AD is exempted from the provisions of Advance tax. Hence your Total Taxable income will be reduced by 270337.

srinivass
CA Final

[ Scorecard : 2451]

Posted On 20 June 2012 at 10:35

Originally posted by : Gajendra R. Tiwari
	No, U will not be liable for payment of Advance tax as Presumptive income u/s 44AD is exempted from the provisions of Advance tax. Hence your Total Taxable income will be reduced by 270337.

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