Interest u/s 234B 234C
This query is : Resolved
Indian Patriot
(Querist)
18 May 2008
hi
There is a senior citizen whose tax liability is 54,160 Rs. He ONLY has Interest Income (Interest from fixed deposits). No Tds has been deducted on filing form 15h.
Is the senior citizen liable to pay advance tax?
Should Interest u/s 234B and 234C be also paid?
On what should Interest be paid?
Thanksing you
hi
There is a senior citizen whose tax liability is 54,160 Rs. He ONLY has Interest Income (Interest from fixed deposits). No Tds has been deducted on filing form 15h.
Is the senior citizen liable to pay advance tax?
Should Interest u/s 234B and 234C be also paid?
On what should Interest be paid?
Thanksing you
18 May 2008
yes, advance tax is payable.
if not paid, interest shall be paid.
if not paid, interest shall be paid.
Late CA Sampat Jain
(Expert)
21 May 2008
Liable for advance tax as well as interest.
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