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Interest u/s 234B

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Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2010 My Taxable Income is 2,85,220.

I have paid advance tax of Rs 5000 in Feb and Rs 10,000 on 22-03-2010.

My total Tax liability is is Rs12,898. Excluding interest.

I have a confusion if interst u/s 234B and 234 c is payable.

Is 90% of income tax payable u/s 234B should be payable before 15.03.2010 or 31.03.2010.

I have calculated interest payable u/s 234C

I have a doubt whether interest u/s 234B should be charged or not

Please help urgent

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 July 2010 Yes interest under section 234B has to be charged though the amount paid in between 15th to 31st March shall also be treated as advance tax paid for the financial year.

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