Interest on income tax (u/s 234a/b/c)
This query is : Resolved
26 July 2012
Dear Experts,
I need your help on following-
1- An employee was deducted TDS of Rs. 21000.00 from his salary in F.Y.2011-12
2- For the return purpose he includes some othet income and thus his total Tax liability become 25000.00 So that now he need to deposit extra Tax 4000.00 in July,2012.
Now my question is that will interest is payable on it or not! If interest is payable. how much...
Thanks in advance.
I need your help on following-
1- An employee was deducted TDS of Rs. 21000.00 from his salary in F.Y.2011-12
2- For the return purpose he includes some othet income and thus his total Tax liability become 25000.00 So that now he need to deposit extra Tax 4000.00 in July,2012.
Now my question is that will interest is payable on it or not! If interest is payable. how much...
Thanks in advance.
Amol S Joglekar
(Expert)
26 July 2012
ineterst is payable as it falls short of 90% of total tax.
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