Int. u/s 234b & 234c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 April 2013 Mr. A has income for A.Y 2011-12 as under
Income u/s 44AD 135499
Remuneration from firm 78537
Int. from firm 30536
Interest income 157638
Agriculture income 401193
Deduction u/s 80C 100000
80D 7500

Total tax rs. 29340 paid with int. u/s 234A as on 30/03/2012. Whether Interest U/s 234B & 234C applicable?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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17 April 2013 Interest U/s 234B and 234C is not leviable as such interest has to be calculated only when, the tax liability- without considering 44AD income, exceeds Rs. 10000/-.
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