Interest on Tax Liability
This query is : Resolved
18 July 2011
One of my Female Clients worked in two Organisations in the previous year 2010-11. Details of salary received & tds deducted is follows:
Ist employer : Income under salary Rs.164000/-
TDS deducted Rs.4000/-
IInd employer: Income under salary Rs.184000/-
TDS deducted Rs.7000/-
Now total income comes to Rs.348000/-
Deductions under Chapter VI A NIL due to no tax saving investments. Hence Tax liability comes to Rs. 16274/- bus TDS deducted Rs. 11000/- , Net tax liab. is RS.5274. Will any interest u/s 234A/234B/234C be attracted?
Ist employer : Income under salary Rs.164000/-
TDS deducted Rs.4000/-
IInd employer: Income under salary Rs.184000/-
TDS deducted Rs.7000/-
Now total income comes to Rs.348000/-
Deductions under Chapter VI A NIL due to no tax saving investments. Hence Tax liability comes to Rs. 16274/- bus TDS deducted Rs. 11000/- , Net tax liab. is RS.5274. Will any interest u/s 234A/234B/234C be attracted?
18 July 2011
1. 234A - will not attract if return filed on or before 31/07/2011.
2. 234B - will not attract since she is not bound to pay advance tax by virtue of section 209 (1)(d).
3. 234C - will not attract since she is not bound to pay advance tax.
2. 234B - will not attract since she is not bound to pay advance tax by virtue of section 209 (1)(d).
3. 234C - will not attract since she is not bound to pay advance tax.
19 July 2011
I agree with the expert on the basis of question you have asked. In other cases the answer might differ.
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
- TDS 194-T applicability
- Tds on commission charges
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- GST ITC REVERSE
- Consolidated financials
- Renovation exp. in flat by family member
- FAST-DS Scheme - Foreign Assets
- Regarding Applicability of Tax Audit u/s 44AB
- TDS on TRUST
- Need Professional Opinion AY 2012-13 Old Demand
- New GST registration for new place of business.
- Starting trading business
- 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?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
Quick Links
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
ARTICLESHIP
18 September 2026
Industrial Trainee
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
CCI
Pro
CAclubindia
