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
sachin alwadhi
(Expert)
28 July 2010
AGREE
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