Interest payable on income tax liability



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


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......

M.com,CS,CA F Tushar Sampat (Expert)
17 July 2014
no int is applicable in this case................


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