Calculate interest inder sec.234b
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 March 2014
how to calcute interest under sec 234B?
wheter interest under sec. 234a will affect the interest calculation under sec. 234b
wheter interest under sec. 234a will affect the interest calculation under sec. 234b
05 March 2014
interest under 234B is charged where advance tax paid is less than 90% of the assessed tax. The rate of interest is 1% for each month or part of the month starting 1 April of the Assessment year to the date of 143(1)/143(3) order.
the interest is charged on the difference between assessed tax less any advance tax paid, TDS credit, any relief under section 90/90A, 91, tax credit under 115JA/115JD.
No 234A is not linked with 234B
the interest is charged on the difference between assessed tax less any advance tax paid, TDS credit, any relief under section 90/90A, 91, tax credit under 115JA/115JD.
No 234A is not linked with 234B
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