Interest u/s 234

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Ravindra Kumar (Querist)
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10 August 2011 how i calculate interest u/s 234 b & C of Company as on 31.07.11 for the a.y.2011-12 total income tax is 1513747/- & advance tax paid as on 15.03.11 is Rs.1200000/-. how to calculate no. of months and what is rate of interest.

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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10 August 2011 You are liable for Interest u/s 234B & 234 C.
234B of 3,13,747/- @ 5%
234C on 15% of 1513747/- @ 3% + 45% of 1513747/- @ 3% + 3,13,747/- @ 1%

CA Navin Jain

CA Navin Jain (Expert)
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10 August 2011 Under Sec-234C
30% of 1513747= 454124*3% (Int of 3Month)

60% of 1513747= 908248*3% (Int of 3Month)

100% of (1513747-1200000)= 313747*1% (Int of 3Month)

Under Sec 234B

313747*4% (Intt of 4 Month)

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Ravindra Kumar

Ravindra Kumar (Querist)
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10 August 2011 Mr. Navin jain Ji

is slabe rate of advance payment 30%,60% & 100% or 15%, 45%, 75% & 100%? I m confused.

CA Navin Jain

CA Navin Jain (Expert)
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10 August 2011 is slabe rate of advance payment
30%,60% & 100% in the case of corporate assessee

and 15%, 45%, 75% & 100%. in the case of other than corporate assessee

Ravindra Kumar

Ravindra Kumar (Querist)
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10 August 2011 Mr. Jain Ji

i think it should be just opposit. pls tell, where i get this slab rate from?

Ravindra Kumar

Ravindra Kumar (Querist)
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10 August 2011 is company covered in corporate assessee?

CA Navin Jain

CA Navin Jain (Expert)
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10 August 2011 yes its opposite, wrong typing mistake by me

Ravindra Kumar

Ravindra Kumar (Querist)
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10 August 2011 thank you mr. jain ji

CA Navin Jain

CA Navin Jain (Expert)
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10 August 2011 I think Now you are fully cleared

Ravindra Kumar

Ravindra Kumar (Querist)
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11 August 2011 1 employee of my company leaves the job on 31.07.11 for 3 months and he comes back after 3 months and his his salary increas from 01.04.11 to 31.07.11 now he wants his 4 months arrear, what is procedure ?

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