Interest u/s 234b & 234c
This query is : Resolved
19 July 2013
Dear Sir,
Senior Citizen asseessee has following income :
Salary Income : 312000
Interest Income : 305720
TDS deducted on Interest Income : 16570
No TDS deducted on salary...
now tax liability arises to Rs. 30353 after TDS but our income tax return filing software does not calculate any interest u/s 234B & 234C...
So whether software is correct or not ???
As assessee is not liable for interest u/s 234B & 234C because the employer is in default for deducting TDS...
Whether this is right or not ?????
Senior Citizen asseessee has following income :
Salary Income : 312000
Interest Income : 305720
TDS deducted on Interest Income : 16570
No TDS deducted on salary...
now tax liability arises to Rs. 30353 after TDS but our income tax return filing software does not calculate any interest u/s 234B & 234C...
So whether software is correct or not ???
As assessee is not liable for interest u/s 234B & 234C because the employer is in default for deducting TDS...
Whether this is right or not ?????
19 July 2013
The software is according to legal provision contained u/s 207(2).
.
Senior citizens, not carrying on Business or profession, are not required to comply advance tax provisions.
.
.
Senior citizens, not carrying on Business or profession, are not required to comply advance tax provisions.
.
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