regarding section 234c.
This query is : Resolved
08 March 2025
A taxpayer has paid 100% of his assessed tax as advance tax on 15th march. But he has not paid any advance tax in QTR-1, QTR-2 & QTR-3.
Is he liable to pay interest u/s 234C for QTR-1, QTR-2 & QTR-3 in this case scenario?
Is he liable to pay interest u/s 234C for QTR-1, QTR-2 & QTR-3 in this case scenario?
08 March 2025
Yes, the taxpayer is liable to pay interest under Section 234C of the Income Tax Act for the shortfall in the earlier quarters.
08 March 2025
If 100% tax is on capital gain, then also interest is payable for all the 3 QTRs?
is interest chargeable under section 234b is also applicable for such income of Capital Gain?
is interest chargeable under section 234b is also applicable for such income of Capital Gain?
08 March 2025
1. Interest is charged based on the capital gains' quarterly break up.
2. Yes, unless senior citizen...
2. Yes, unless senior citizen...
04 October 2025
Good luck...
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