Interest u/s 234a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2014 Whether interest U/s 234A is leviable under the situation given below.

A person has paid self assessment tax after the due date for filling return of income.
Due date of return : 31st july 2012
Date of payment: 7th july 2013
original date of filing return : 21st march 2014

at the date of payment interest under sec. 234A has been paid till that date. but the question is whether interest u/s 234A is leviable till the date of filing return of income in this case?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

21 March 2014 The legislature has not taken care of such a situation in section 234A. However,
as a corollary to supreme court decision in CIT Vs Dr. Prannoy Roy , reported in 19 DTR 102, interest levy is justifiable from August 2012 to July 2013.

Querist : Anonymous

Querist : Anonymous (Querist)

21 March 2014 But what about the interest from july 2013 to march 2014?

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