Interest u/s 234b & 234c
This query is : Resolved
Imran H Mansuri
(Querist)
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 ?????
CA PARAS BAFNA
(Expert)
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.
.
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
- GSTR9 Annual Return
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Ito add credit side of bank
- Employee secondment
- Import of Capital Machine
- LLP audit and disclosure
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Capital gain on commercial property and investment in residential property
- Gift to nri relatives resides in usa
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Closer of business and itc of capital goods
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
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
