234a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2014 Our company had not filed its income tax return for the AY 2014-15 as there was an extension given for the companies in which tax audit was applicable. The company had paid all the taxes (self assessment tax) before 30th September 2014. Please advise that since we are filing the return now, is interest u/s 234-A applicable or not as the extension was given by CBDT and secondly no tax is due to be paid.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 November 2014 if there is no outstanding tax liability as at 30 september, no 234A interest liability shall arise.

Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2014 Thanks Sir. That was my perception also. But the excel utility is calculating the interest u/s 234A.

Amol S Joglekar

Amol S Joglekar (Expert)
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14 November 2014 Try some other software. Excel utility sometimes gives some erroneous calculations.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 November 2014 you can manually remove the interest so computed....

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Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2014 Thanks a lot for the suggestions.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 November 2014 you are welcome friend....

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