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Interest charged u/s 234 a, b & c

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Jignesh Desai (Querist)
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27 July 2011 Suppose the Total Income Tax Liability of an Indian Income Tax Assessee for the A.Y. 2011-12 is Rs. 50,000 . He paid Rs. 15,000 Advance Tax on 15-9-10 & Rs. 15,000 on 15-12-10 . What would be the Interest charged to him under Section 234 -A , 234 -B & 234-C if :

(i) He pays the Balance Income Tax (i.e Rs. 20,000) on 15/7/2011 & files his Return on 15/8/2011 ?
(ii) He files the Return on 15/7/2011 & pays the Balance Tax (Rs. 20,000) on 15/8/2011 ?
(iii)He Files the Return as well as pays the Balance Tax , i.e. Rs. 20,000 on 15/8/2011 ?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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07 August 2011 Section 234A not apply if you file the return on or before 31.7.11 but section 234B/C will apply even you file the return on time because failure & deferment payment of advance tax

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