Interest on tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 August 2012
Dear expert,
Self assessment tax of a firm for AY 2012-13 was Rs. 3050/- as calculated on 30- July - 2012. However partner could not deposit the said tax due to over rush at bank counter.
Therefore return could not be filed till 31 July 2012.
Suppose if the firm files his return in Aug. 2012, then interest for one month is due or not, as due date for returns have extended to 31 Aug 2012.
Please advise me.
Self assessment tax of a firm for AY 2012-13 was Rs. 3050/- as calculated on 30- July - 2012. However partner could not deposit the said tax due to over rush at bank counter.
Therefore return could not be filed till 31 July 2012.
Suppose if the firm files his return in Aug. 2012, then interest for one month is due or not, as due date for returns have extended to 31 Aug 2012.
Please advise me.
06 August 2012
Since the due date of filing the return has been extended to 31st August, 2012 interest u/s 234A shall NOT be levied.
Prakash Kochar
(Expert)
07 August 2012
Tax paid on or before 31.08.2012 will be within extended period, will not attract interest u/s. 234A.
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
