Interest u/s 234 a b c

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Dhaval (Querist)
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01 October 2012 Query of private company for A.Y 2012-13.
Tax liability for the year 2,20,787.
TDS 73,705.
Advance tax paid on 12.03.2012 1,35,000.
Due date & date of return filing 30.09.2012.
What will be the interest payable.
Please tell with calculation.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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01 October 2012 Since return has been filed in time there will not be interest u/s 234A. Further since 90% of tax liability after TDS deduction has been paid no interest u/s 234B also applicable. So u need to pay only interest u/s 234C. For the calculation please see interest calculator in files section.

Dhaval

Dhaval (Querist)
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01 October 2012 Thanks Aditya.
I agree with your views.
But in ITR 6 in computation of income tax sheet when I clicked compute tax tab then it shows interest u/s 234b also.
Please explain.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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01 August 2024 https://docs.google.com/document/d/1OzaEVVj9sNLYhnX5o2izOpOcO443oPs9YEWpEnMcueo/edit?usp=sharing

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