Interest u/s 234 a b c
This query is : Resolved
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.
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
(Expert)
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.
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.
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.
01 August 2024
https://docs.google.com/document/d/1OzaEVVj9sNLYhnX5o2izOpOcO443oPs9YEWpEnMcueo/edit?usp=sharing
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