Interest u/s 234b wrongly charged by ao
This query is : Resolved
Mohan Saxena
(Querist)
23 August 2012
Our Company is having a C/F Losses of Rs.14,68,360.00 as on 31/03/2010.
Tax Payable (Incl. Cess) under MAT for the F.Y.2009-10 was Rs.678459.00 which has been adjusted against available TDS Credit of Rs.26,61,687.00
The Assessing Officer has disallowed Administrative Expenses amounted to Rs.2,50,000.00
As a result of Order passed on 16/08/2012 u/s 143(3)Interest u/s 234B of Rs.1,09,640.00 has been charged by the A.O.and a demand has been raised.
Since, Interest u/s 234b & C is not applicable but charged in Computation of Income by AO.
Please guide me the procedure to get it corrected in Assessment Order from department.
Tax Payable (Incl. Cess) under MAT for the F.Y.2009-10 was Rs.678459.00 which has been adjusted against available TDS Credit of Rs.26,61,687.00
The Assessing Officer has disallowed Administrative Expenses amounted to Rs.2,50,000.00
As a result of Order passed on 16/08/2012 u/s 143(3)Interest u/s 234B of Rs.1,09,640.00 has been charged by the A.O.and a demand has been raised.
Since, Interest u/s 234b & C is not applicable but charged in Computation of Income by AO.
Please guide me the procedure to get it corrected in Assessment Order from department.
CA VISHNU GAVKARE
(Expert)
24 August 2012
Dear Mohan,
234 B is on assessed Income hence stand taken by AO is correct. 234c is on returned hence not applicable in your case.
234 B is on assessed Income hence stand taken by AO is correct. 234c is on returned hence not applicable in your case.
Mohan Saxena
(Querist)
24 August 2012
Is Interest u/s 234B still applicable if Tax Liability calculated under MAT and assessee is having TDS credit for same financial year which 5 times more the actual tax liability.
Please reply.
Please reply.
Dhirajlal Rambhia
(Expert)
06 August 2023
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- 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
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
