banner_ad

Interest Calculation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
30 October 2009 I wanted to calculate interest u/s 234 c. So just let me know whether it shud be calculated as follows or what:

Tax payable
less :- Tds paid
Net tax payable

u/s 234/c

Net tax payable
Int @ 1% p.m. for delayed months

Please revert asap
Profile Image

Satpal Singh

Profile Image

Satpal Singh (Expert)
30 October 2009 Yes you are correct
Profile Image

chetan soni

Profile Image

chetan soni (Expert)
30 October 2009 Lets take an example.

Total tax liability 15000.00
TDS 5000.00

So tax payable 10000.00

Interest u/s 234C
Ist Adv tax Inst.(15-Sept) 30% of tax payable was 3K Int. @ 3% Rs.90
IInd Inst (15-Dec) 60% of tax payable was 3K Int. @ 3% Rs.180
IIIrd Inst. 100% (15-Mar) of tax payable was 10K Int. @ 1% Rs.100

Total Interest 370.00

Total SA tax payable 10370.00
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


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 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details