Interest on TAX for Assessment Year 2008-09

This query is : Resolved

nitin (Querist)
Follow

09 May 2008 Hi,

If somebody has paid 98% of his taxes as Advance tax but paid remaining 2% after 31 March. Does he need to pay interest on tax paid after 31 MARCH u/s 234B and 234C.

Thanks.

CA Hemant T Dewani

CA Hemant T Dewani (Expert)
Follow

09 May 2008 interest is payble if total tax is paid below 90% u/s 234B & C in you case advance tax is paid 98% then interest on bal amount is not charged

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Sabyasachi Mukherjee

CA Sabrish Nair

Sanjay Ratnani

Sasidhar B

MURALIKRISHNA EDDANAPUDI

Subscribe Now

Interest on TAX for Assessment Year 2008-09

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Article Assistant

Manager- Finance and Compliance

GST CONSULTANCY

CA Final

Accountant

GST CONSULTANT