INTEREST 234B
This query is : Resolved
22 July 2025
HOW TO CALCULATE INTEREST U/S 234B FOR FY 2024-25
I HAVE A QUERY ON THE FOLLOWING
Date of Determination of Income U/s 143(1)---HERE WHAT DATE SHOULD WE ENTER ?
INTEREST CALCULATION FROM 01.04.2025 TO ? WHAT DATE ?
PLEASE REPLY
I HAVE A QUERY ON THE FOLLOWING
Date of Determination of Income U/s 143(1)---HERE WHAT DATE SHOULD WE ENTER ?
INTEREST CALCULATION FROM 01.04.2025 TO ? WHAT DATE ?
PLEASE REPLY
22 July 2025
Interest is charged at 1% per month or part of a month. This means even if you delay payment by a few days into a new month, you'll be charged for the entire month.
Period of Default:
Interest starts from April 1st of the assessment year.
Suppose you paid the balance on July 25th.
The months of default are April, May, June, and July (even though it's only part of July, it counts as a full month). So, 4 months.
Period of Default:
Interest starts from April 1st of the assessment year.
Suppose you paid the balance on July 25th.
The months of default are April, May, June, and July (even though it's only part of July, it counts as a full month). So, 4 months.
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