234 b is calculated till the date of order or filling of roi

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Querist : Anonymous

Querist : Anonymous (Querist)

29 April 2016 Sir,

Suppose

I filled my return for AY 2008-09 on 30th Sep'09. it was selected for scrutiny and then i went for Appeals and at last i received Assessment order.
so for calculation of 234B Which date should i Consider... >>

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

29 April 2016 From 1.4.2008 to the date of 143(3) order.

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Querist : Anonymous

Querist : Anonymous (Querist)

29 April 2016 Sir I received it on 29.3.2016 so the date will be 29.3
.2016 ????

Murtaza I Bhagat

Murtaza I Bhagat (Expert)

29 April 2016 Yes you have to calculate 234B on order date which is written of notice. not on when you received notice.

Abhishek Ranjan Singh

Abhishek Ranjan Singh (Expert)

29 April 2016 Agree with experts, Some expert are just posting reply by other experts reply. Kindly do not do this. if your answer is same as earlier post reply.

Interest under section 234B is levied in following two cases:
a) When the taxpayer has failed to pay advance tax though he is liable to pay
advance tax; or
b) Where the advance tax paid by the taxpayer is less than 90% of the assessed tax
(meaning of assessed tax is discussed later).

Interest under section 234B is levied on the amount of unpaid advance tax. If there is a
shortfall in payment of advance tax, then interest is levied on the amount by which
advance tax is short paid.the amount of tax as determined under section 143(1) and where regular assessment is made, the tax on total income as determined under such regular assessment as reduced by tax deducted/collected at source, relief/deduction of tax
[As amended by Finance Act, 2015] claimed under various sections like sections 90/90A/91 and tax credit claimed under section 115JAA/115JD.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615
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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

29 April 2016 Abhishek Ji

Pl reconsider you observation. Query is based on 234B.

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