Interest U/s 234C
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 December 2009
Our taxable income was Rs.17,72,150/- and Tax comes to Rs.402,039/- and we paid advance tax 115,000/- and TDS deducted Rs.563,740/-.
Income Tax department has deducted interest U/s234C. Please explain.
Income Tax department has deducted interest U/s234C. Please explain.
KRISHNA KUMAR R C
(Expert)
17 December 2009
interest u/s 234C will not come in this case as the whole tax is paid by way of tds.
Murtaza I Bhagat
(Expert)
17 December 2009
I also agree with that If you Pay excess then IT in Advance tax + TDS.but I think IT Dept.has deduct interest on Calculation of Advance tax only.
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