Advance tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 July 2013 If total tax liability is less than Rs.10000 then 234C is applicable or not?

If a person fails to pay advance tax - then

How to calculate the interest amount U/S 234C for FY 2013-14?

How to calculate the interest amount U/S 234B for FY 2013-14?

CA UMESH DULAL

CA UMESH DULAL (Expert)
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02 July 2013 If tax liability is less than 10000 then 234 b & c are not applicable.

for calculating interest u/s 234 you can find tax calculator in net.(if you do not the provisions, then download this calculator from Net)

Ganeshbabu K

Ganeshbabu K (Expert)
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02 July 2013 advance tax provisions not applicable if tax liability less than 10000...

and if income not from business and profession no need to pay advance tax by senior citizen for A.Y.2013-14 and for subsequent years vide section 207(2) of income tax act.

Please refer below articles..you can caluculae how ot calucualte 234B and 234C

https://www.caclubindia.com/articles/interest-u-s-234a-234b-and-234c-15276.asp

Thanks & regards
Ganesh babu k

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