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Interest payable on income tax liability

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 July 2014 My tax liability for the AY 14-15 is Rs 4160/- after TDS. Is any interest is payable on it. If yes, what is the rate of interest and how period is calculated? And if no,what is amount which is exempted from interest ?

Thanks
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CA Tejas Mistry

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CA Tejas Mistry (Expert)
17 July 2014 No interest payable on the liability less then Rs 10,000/- during the year.....

So in your case interest is not payable......
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
17 July 2014 no int is applicable in this case................




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