Advance tax

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CA Sarita Rathore (Querist)

09 October 2014 Dear Experts,
How to calculate Intt on Adv tax u/s 234B 234C including 44AD Income because it is not applicable in 44AD Income.

Here is the situation:-
Salary Income - 438000
Income u/s 44AD - 512000
Deduction u/s 80c - 100000

Interest u/s 234B and 234C - ???

"Thanks in Advance"

CA Shashank Jain

CA Shashank Jain (Expert)

09 October 2014 INTEREST CALCULATION U/S 234A
Period of Default(Aug 1,2014-Oct 9, 2014)
3 x 1% x 103000 = 3090
INTEREST CALCULATION U/S 234B
Period of Default(Apr 1,2014-Oct 9, 2014)
7 x 1% x 40900 (40958) = 2863
INTEREST CALCULATION U/S 234C
Ist : 3 x 1% x 12200 (12287 (40958 X30%))=366
IInd : 3 x 1% x 24500 (24575 (40958 X 60%))=735
IIIrd : 1 x 1% x 40900 (40958 (40958 X 100%))=409

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CA Sarita Rathore

CA Sarita Rathore (Querist)

10 October 2014 can u pls explain that how u calculate tax of Rs. 40958.

and i forgot to mention AY its AY 2013-14

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