24 September 2021
I am filing ITR 2 for FY 21-22. While computing Tax Liability it is calculating Interest U/s 234A, but the section says as "Under section 234A, interest is levied for delay in filing the return of income" other sections 234B & 234C is not applicable to me. As now the due dates are extended how come it calculates the interest. Can any one explain how the interest is calculated. The calculation shows as interest for two months i.e. August and September 21. I will be filing my return before 30th September.
24 September 2021
However As per Circular No. 9 of 2021 Dated 20th May, 2021 or Order [F.No.225/49/2021-ITA-II] if assessee has tax payable exceeding Rs. 1,00,000 then for the purpose of Section 234A due date extension is not applicable on him and Interest will be charged from 1st Aug 2021(Non Audit Cases) or 1st Dec 2021(Audit Cases) as the case may be but he can file his return up to 30th Sep 2021 and 30th Nov 2021 as the case may be.
24 September 2021
Extract from "Circular No. 17/2021' dated 09/09/2021 ....
Clarification 1: It is clarified that the extension of the dates as referred to in clauses (9), (12) and (13) of Circular NO.9/2021 dated 20.05.2021 and as referred to in clauses (1), (4) and (5) of this Circular shall not apply to Explanation 1 to section 234A of the Act, in cases where the amount of tax on the total income as reduced by the amount as specified in clauses (i) to (vi) of sub-section (1) of that section exceeds one lakh rupees.
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