interest u/s 234B & 234 C
This query is : Resolved
11 July 2008
Tax on Total Income Rs.377,513/-
Less: TDS deducted Rs.366,078/-
Less: Advance Tax Rs. NIL
Balance Payable Rs. 11,435/-
Interest u/s 234 B Rs. 456/-
Interest u/s 234 C
1- 103
2- 206
3- 114 Rs.423/-
Total interest Rs. 879
As per sec 234B interest is payable if advance tax paid is less than 90% therefore, here Advance Tax Paid is Zero.
Further, 234C is for shortfall of advance tax installment.
Pls tell whether the above calculations are correct and if not please provide the same urgently,
Thanks & Regards
Sushil
Less: TDS deducted Rs.366,078/-
Less: Advance Tax Rs. NIL
Balance Payable Rs. 11,435/-
Interest u/s 234 B Rs. 456/-
Interest u/s 234 C
1- 103
2- 206
3- 114 Rs.423/-
Total interest Rs. 879
As per sec 234B interest is payable if advance tax paid is less than 90% therefore, here Advance Tax Paid is Zero.
Further, 234C is for shortfall of advance tax installment.
Pls tell whether the above calculations are correct and if not please provide the same urgently,
Thanks & Regards
Sushil
11 July 2008
assuming return is filed in Jul, calculation is correct.
18 June 2023
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