234a interest

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Nagaraju S S (Querist)
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09 December 2011 Please any one reply me regarding:

i have received intimation u/s 143(1)indicating tax liability.

i have paid all the tax before the due date but i filed the return late.

whether i have to pay 234A interest for the same.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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09 December 2011 Yes you will have to pay interest u/s 234A. it is levied for late filing of return irrespective of whether tax is paid before or later but levied only in case where S. A. Tax has been paid.

Nagaraju S S

Nagaraju S S (Querist)
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09 December 2011 THen why Winman software is not caculating the same.

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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09 December 2011 it may be problem in software but according to law you are required to pay interest @ 1% per month or part of the month u/s 234A

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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09 December 2011 If the tax due is paid before the due date of filing the return, and the return filing is belated, interest under section 234A can't be levied.
Citation :- Dr. Prannoy Roy & Anr. Vs CIT [2002] 172 CTR (Del) 465.

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