banner_ad

Computation of interest under section 234c

This query is : Resolved 
Profile Image

Profile Image

(Querist)
08 May 2015 Hi,

One of my clients has earned capital gain income on 31.03.2014 and tax due on the same was deposited in Nov 2014... while making the computation of interest under section 234C, i didn't consider this income since it income was earned after 15th March.... Few days back i received an intimation u/s 143(1) claiming interest u/s 234C. So is the demand valid?
Do we need to pay int even if income is earned after 15th March?
Profile Image

Amol S Joglekar

Profile Image

Amol S Joglekar (Expert)
08 May 2015 Sec 234C:
for the amount of capital gains;

the assessee has paid the whole of the amount of tax payable in respect of such income,
where no advance tax instalments are due, by the 31st day of March of the financial year.

In your case you paid the tax, it seems, in Nov 2014. and Hence 234C interest is leviable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details