Interest calculation u/s 234b
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 September 2011
The tax liability is Rs.5 lacs for 2010-11. No advance tax was paid during 2010-11.
Rs.1 lac was paid on 30.04.11 and another 1 lac was paid on 30.06.11. So, while calculating interest u/s 234B should I have to consider the payments made in Apr & Jun and calculate interest for the broken period or the Interest will be @ 1% for 6 months on Rs 5 lacs
Pls clarify
Rs.1 lac was paid on 30.04.11 and another 1 lac was paid on 30.06.11. So, while calculating interest u/s 234B should I have to consider the payments made in Apr & Jun and calculate interest for the broken period or the Interest will be @ 1% for 6 months on Rs 5 lacs
Pls clarify
24 September 2011
Upto april on 5 lacs from may to june on 4 lacs from july to upto date of balance tax paid on 3 lacs interest will be charged @1% p.m or part of the month.
so you have to consider part payments made.
OM SAI SRI SAI JAI JAI SAI
so you have to consider part payments made.
OM SAI SRI SAI JAI JAI SAI
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