234c
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 September 2010
Interest calculation
30%(a-b)-C,3 months,1%,15th Sept
60%(a-b)-D,3 months,1%,15th Dec
100(a-b)-E,1 month,1%,15th Mar
a-Tax on returned income
b-TDS
C,D,E-Advance tax paid upto 15th of Sept ,Dec and March.
Suppose TDS upto 15th Sept Rs100/-
from 15 Sept to 15 Dec-Rs150/-
from 15 Dec to 15 Mar-Rs75/-
whether b is total TDS (100+150+75)for the whole year or 100,150,75 respectively while calculating interest in 31st march.
30%(a-b)-C,3 months,1%,15th Sept
60%(a-b)-D,3 months,1%,15th Dec
100(a-b)-E,1 month,1%,15th Mar
a-Tax on returned income
b-TDS
C,D,E-Advance tax paid upto 15th of Sept ,Dec and March.
Suppose TDS upto 15th Sept Rs100/-
from 15 Sept to 15 Dec-Rs150/-
from 15 Dec to 15 Mar-Rs75/-
whether b is total TDS (100+150+75)for the whole year or 100,150,75 respectively while calculating interest in 31st march.
17 September 2010
TDS will be deduted not quarter wise , it will be deducted first as whole
Tax on returned income less tds = tax to be payable on which advance tax is to be paid
Tax on returned income less tds = tax to be payable on which advance tax is to be paid
18 September 2010
In the given case "b" is total TDS ie.Rs.325(100 +150 +75).
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