Interest u/s 234a, b ,c
This query is : Open
16 February 2012
for calculating interest.the tax payable should be rounded to ? for eg. its 25367 it should be roundedd off to ?
Thanks in advance
Thanks in advance
16 February 2012
Tax payable should be rounded off to the nearest 10. So, Rs. 24,367 shall be rounded off to Rs. 24,370.
16 February 2012
For interest u/s 234A,B,C the tax shortfall amount is rounded off to the previous hundred. Tax is to be rounded off to the nearest rupee.
16 February 2012
so pradeep sir u mean the tax payable should be first rounded of to nearest rupee i.e 25367 to 25370 and for caln of interest 25370 now should be rounded off to Rs. 25300 ?
16 February 2012
for calculating interest u/s 234 a,b,c tax payable of Rs. 25370 should be rounded off to
19 February 2012
As per section 288B of the Income tax Act,1961 the tax payable shall be rounded of to the nearest multiple of 10 rupees. Therefore, in your case it should be rounded off to Rs.25,370.00
23 February 2012
for calculation of interest the tax payable of rs. 25370 should be rounded off to ? some say previous hundred ? is that right?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Pass word to open justification report for Q1 for FY 2026-27
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Section 194JA & JB Income which ITR Form to use
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- Not able to file ITR
- Presumptive income under Income tax act 2025
- Rental income of jointly held property
- Regarding ITR filing with more value than showing in AIS/TIS
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
