Charging interest u/s. 234c

This query is : Open

Rakesh Bandal (Querist)
Follow

12 July 2017 Respected Sir,
I want to know why Interest U/s. 234C for first 3 Quarters is charged for 3 month but for Q4 it charged only for 1 Month
If we consider that for Q1 section charges interest from April to June hence three months, then what is the period for Q4 for charging interest

Thanks

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
Follow

12 July 2017 Only for March interest is charged

Rakesh Bandal

Rakesh Bandal (Querist)
Follow

13 July 2017 Sir,
Can you please explain in detail

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
Follow

13 July 2017 For shout payment interest will be paid at 15 Jun - Int @ 1% for 3 mth 15 Sep - Int @ 1% for 3 mth 15 Dec - Int @ 1% for 3 mth 15 Mar - Int @ 1% for 1 mth

Rakesh Bandal

Rakesh Bandal (Querist)
Follow

15 July 2017 Sir thanks for your kind reply
but my query is still unsolved

I want to know why interest for Q4 is charged only for 1 month as compared to other quarter which is charged for 3 months , why for Q4 interest is not charged for 3 months

Thanks

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
Follow

16 July 2017 because interest u/s 234C is charged up to march every year, so in case of 4th adv thx payment int only for 1 mth is charged

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
Follow

16 July 2017 From April onwards Interest u/s 234B is charged

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
Follow

16 July 2017 And kindly note that it is 4th due date of payment of Advance Tax and not Q4

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now