interest on I tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2010
please inform me how & when we calculate Intt. on Ad.I Tax , what is the Rate of Intt. please give me Example,
28 July 2010
Interest u/s 234C is to be calculated if the advance tax hasn't been sufficiently paid within the due dates.
Due dates and the amount required to be paid for
Companies
June 15th - 15% of Net tax
Sep 15th - 45% of net tax
Dec 15th - 75% of Net tax
March 15th - 100% of Net tax
Other assessees
Sep 15th - 30%
Dec 15th - 60%
Mar 15th - 100%
If the advance Taxes are not paid within the due dates,
then for the deffecient amount interest will be charged at 1% per month
i e , 3% for all the defeciencies upto march
and for the defeciency in march advance tax has to charged @ 1% only
Due dates and the amount required to be paid for
Companies
June 15th - 15% of Net tax
Sep 15th - 45% of net tax
Dec 15th - 75% of Net tax
March 15th - 100% of Net tax
Other assessees
Sep 15th - 30%
Dec 15th - 60%
Mar 15th - 100%
If the advance Taxes are not paid within the due dates,
then for the deffecient amount interest will be charged at 1% per month
i e , 3% for all the defeciencies upto march
and for the defeciency in march advance tax has to charged @ 1% only
Message likes :
1 times
28 July 2010
AGREE
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- ASMT-10 received from A O
- Rental income of jointly held property
- Accounting with Claude
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
