14 November 2011
Hello Everybody, can any one clear me about arrear Demand. One of my cleint has received email from Itax - CPC for communication on Arrear Demand. One demand is for Rs. 4500/- in which interest calculated upto 01.10.2010 and other demand is for rs. 10/- interest calculated upto 01.10.2010. The assessee has not any single case for that that A.Y.
16 November 2011
Arrears demand is made only if Tax is less paid than liability raised in that year. and interest is calculated on P A basis and in case of fraction apply 365 days.
CAclubindia
