Advance Tax
This query is : Resolved
V.S.Rajagopalan
(Querist)
29 December 2009
A Co.fails to pay the advance tax due on 15/12 but pays it on the 29/12. What is interest due as per 234C.
Arjuna Raina
(Expert)
30 December 2009
1%
Murtaza I Bhagat
(Expert)
30 December 2009
yes agree
Interest for belated payment of tax: [Section 220(2)]Interest: If the amount demanded as per notice u/s 156 is not paid within the period specified in that notice the Assessee shall be liable to pay a simple interest @ 1 % per month or part
of a month
Interest for belated payment of tax: [Section 220(2)]Interest: If the amount demanded as per notice u/s 156 is not paid within the period specified in that notice the Assessee shall be liable to pay a simple interest @ 1 % per month or part
of a month
CMA Ramesh Krishnan
(Expert)
31 December 2009
1% Per month
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