Int u/s 234B

This query is : Resolved

MAKARAND DAMLE (Querist)
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06 September 2021 Tax payable on total income is Rs.18,91,400/- and TDS deducted from salary and other income is Rs.17,82,346/- which is 94% of total tax liability
Still after filing ITR 2 interest us 234B is getting calculated
What can be done to rectify this and file income tax return ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 September 2021 234b interest applicable if tax payable is more than 10,000.

MAKARAND DAMLE

MAKARAND DAMLE (Querist)
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07 September 2021 Prepaid Taxes are more than 90% of assessed tax.
Still there will be liability u/s 234B

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 September 2021 Not liable to pay interest in such a case.

MAKARAND DAMLE

MAKARAND DAMLE (Querist)
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07 September 2021 IN ITR 2 interest u/s 234B is automatically getting calculated in above case also
what to do

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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07 September 2021 Report this under grivences. The portal is under correction.

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