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
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