Interest in itns 280
This query is : Resolved
22 August 2018
Dear Sir
Im paying tax on my income (Tax Rs 22530/-) on a proprietorship firm.
The Challan Filled by my CA shows Interest Column Rs 1350, and Total Tax payable Rs 23880/-
While the Due date is 31/09 and today being 22/08
What other reason is there that i have 2 pay Interest
Please revert
Regards
Sumit
Im paying tax on my income (Tax Rs 22530/-) on a proprietorship firm.
The Challan Filled by my CA shows Interest Column Rs 1350, and Total Tax payable Rs 23880/-
While the Due date is 31/09 and today being 22/08
What other reason is there that i have 2 pay Interest
Please revert
Regards
Sumit
KAVIRAJA ADDANGADI
(Expert)
22 August 2018
If you have not paid advance Tax you are liable to pay Interest u/s 234C @1% if you have not Paid Tax subsuent to end of Financial year Internet u/s 234B @1%.,
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