Interest u/s 234b
This query is : Resolved
02 June 2015
For a client, a notice of demand was served increasing the income by 1 lac for ay 2012-13. so while calculating interest u/s 234B, should the interest be calculated on the new amt?
from what date till when the interest has to be calculated?
02 June 2015
Interest has to be calculated on the 'assessed tax'(new amount) as reduced by TDS, tax relief, MAT credit and tax paid under DTA, if any.
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