Interest u/s 234A
This query is : Resolved
Shankar Rao
(Querist)
24 November 2009
Dear all
I have filed my return of Income with in due date for the Asst Year 2006-07 subsequently my case was selected for scrutiny. The assessing officer concluded the assessment by making some addition.
The AO also levied interest U/s 234A is it justified
Kindly clarrify the same
Thanking you
I have filed my return of Income with in due date for the Asst Year 2006-07 subsequently my case was selected for scrutiny. The assessing officer concluded the assessment by making some addition.
The AO also levied interest U/s 234A is it justified
Kindly clarrify the same
Thanking you
Aditya Maheshwari
(Expert)
24 November 2009
If the return of income was filed in time then no interest u/s 234A can be levied.
Also interest u/s 234C cannot increase and it will be the same which u must have computed in ur original return, if any.
However interest u/s 234B will change.
Also interest u/s 234C cannot increase and it will be the same which u must have computed in ur original return, if any.
However interest u/s 234B will change.
chetan soni
(Expert)
24 November 2009
i agree with expert.
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