vineeta (article assissant) (112 Points)
31 May 2015Partners IT return has been filled in feb,2015. Partner had paid interest u/s 234A from Nov 2014 to feb 2015 as last date was postponded till nov 2014. But department has issued intimation u/s 143(1) for payment of interest u/s234A from sept 2014 to feb 2015. How to response to this intimation?
CA S N Modi
(Practice)
(66 Points)
Replied 02 June 2015
CBDT has extended due date of furnishing return of income for A.Y. 2014-15 from 30th September, 2014 to 30th November, 2014 keeping "due date" for the purpose of computing interest u/s 234A unchanged. Therefore return filed before 30th November, 2014 shall not be treated as belated return but will be subject to interest u/s 234A if filed after 30th September, 2014.
In your case, interest u/s 234A is payable from 1st October, 2014 till date of furnishing return.
Refer order no. 153 / 53 / 2014 (TPL) (Pt.I) dated 26/09/2014 for more details.
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