Calculation of Interest U/s 234C
Querist : Anonymous
the client is a salaried individual..Assessed tax works out to Rs 73645 which includes Salary income and income from other sources..TDS Deducted Rs 62278 and Advance tax of Rs 11500 has been paid on 14/03/2011..I tried filling up online ITR -1 which calculates Interest U/s 234 C to Rs 305 which i think is not liable for 234C .. Can anyone pls help with some suggestion and calculation of Interest u/s 234 C if possible..thanks in advance..
A> Calculate Interest @ 3% on 3400 =102
Interest on deferment of second advance tax installment 11367x60%=6820
B> Calculate Interest @ 3% on 6800 =204
Total =306
Since the amount of Tax payable exceeds 10000/ you were supposed to pay advance tax.
Querist : Anonymous
Click here to login now
Similar Resolved Queries
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
