Interest u/s 234A
This query is : Resolved
03 August 2009
For the Assessment Year 2009-10,an assessee had tax payable of Rs.10000.00.The tax sahll be paid during this month(August)but due to certain circumstances the Return can be filed only on December.Kindly guide me how to calculate Interest under Sec 234A.
05 August 2009
Interest liable from the last date of filing to the date of payment of tax
Hence interest for one month @ 12% p. a. i. e. 1% of Rs. 10,000/- = Rs. 100/-
Hence interest for one month @ 12% p. a. i. e. 1% of Rs. 10,000/- = Rs. 100/-
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