Interest payable or not

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2013 I am filing my return for the assessment yr 2013-14 I have to pay remaining tax although TDS have been deducted regularly.Should I pay interest also on the remaning tax?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

09 July 2013 If the tax paid by your or TDS deducted from is less then 90% of the Assessed Tax then you will have to pay interest u/s 234B.

If your Total Tax Liability is more than Rs. 10,000/- you will have to pay interest u/s 234C if there is any deferment in payment of advance tax.

To calculate the quantum of interest go to link given below and put the required data---

http://finotax.com/itax/intt234.htm

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2013 this website having problem not able to open

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

09 July 2013 Please try after some time its opening at my end.

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