Amt of interest u/s 234c not computed correctly at tax site
This query is : Resolved
Puran Singh Dangwal
(Querist)
24 June 2018
Dear Sir
I thought I should check my working with the tax calculator link at income tax site, but the interest computed under section 234C and 234B is very high. The Assesse has income above 50 Lac with marginal tax benefit. Please help.
On a tax liability of Rs. 1,522,508 , tax deducted was Rs. 1,376,931 by 31st March 18, Thus assessed Tax become Rs. 145,578, In my working interest under Section 234A is Rs. NIL, Section 234B is Rs.4365, Section 234C Rs. 7350,
but as per income tax site tax calculator the interest under section 234C is Rs. 76881.
Regards
Puran Dangwal
I thought I should check my working with the tax calculator link at income tax site, but the interest computed under section 234C and 234B is very high. The Assesse has income above 50 Lac with marginal tax benefit. Please help.
On a tax liability of Rs. 1,522,508 , tax deducted was Rs. 1,376,931 by 31st March 18, Thus assessed Tax become Rs. 145,578, In my working interest under Section 234A is Rs. NIL, Section 234B is Rs.4365, Section 234C Rs. 7350,
but as per income tax site tax calculator the interest under section 234C is Rs. 76881.
Regards
Puran Dangwal
Puran Singh Dangwal
(Querist)
25 June 2018
Hi
Yes it includes Cess.
As per your computation, what should be the tax liability under section 234A-234C
Regards
Puran Dangwal
Yes it includes Cess.
As per your computation, what should be the tax liability under section 234A-234C
Regards
Puran Dangwal
25 June 2018
As per Your above said values and If it's AY 2018-19 then Sec 234B only applicable as per Your value Rs. 4365.
Sec 234A & C is not applicable...
Sec 234A & C is not applicable...
Dibin Divyakumar
(Expert)
25 June 2018
Check whether you have correctly provided the TDS deduction details in the ITR as is available in form 26 AS.??
Puran Singh Dangwal
(Querist)
25 June 2018
Hi
Section 234A not applicable, I agree as return will be filed before 31st July 18,
But as I said assessed(unpaid) tax as on 31st of March 18( mainly on FD) is Rs. 145,578, Section 234B and 234C both applies. please correct me if I am wrong.
Regards
Puran
Section 234A not applicable, I agree as return will be filed before 31st July 18,
But as I said assessed(unpaid) tax as on 31st of March 18( mainly on FD) is Rs. 145,578, Section 234B and 234C both applies. please correct me if I am wrong.
Regards
Puran
25 June 2018
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