Interest calculation under section 234b
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 February 2013
I have one querry please help me to sort out
due date of return of income for fy 10-11 is 31/07/2011 but our client filed return as on 26/07/2012 what is implication of interest under section 234b of income tax act( assume to be advance tax paid is less than 90% of assessed tax)
due date of return of income for fy 10-11 is 31/07/2011 but our client filed return as on 26/07/2012 what is implication of interest under section 234b of income tax act( assume to be advance tax paid is less than 90% of assessed tax)
Dintakurthi Tirumala
(Expert)
19 February 2013
Interest shall be paid for 16 months i.e from 1-4-2011 to 31-7-2012 u/s234B.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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