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Interest u/s234b & 234c

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(Querist)
14 July 2014 A PERSON IS 63 YEARS OLD,HAVING TAX LIABILITY OF 40000RS. HE HAS NOT PAID ADVANCE TAX IN FY 2013-2014, HOW MUCH INTEREST IS TO BE PAID BY HIM?
WHETHER 234B OR 234C IS APPLICABLE. PLEASE GIVE ME CALCULATION OF INTEREST?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 July 2014 if there is no business income, then 234B, 234C is not applicable.
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rohit

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rohit (Querist)
14 July 2014 BUT TAX LIABILITY IS MORE THAN 10000RS
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 July 2014 senior citizens are exempted from advance tax if their is no business income
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rohit

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rohit (Querist)
14 July 2014 but if said person is not senior citizen then how interest will be calculated
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
14 July 2014 then compute at the rate provided in the respective section. or your calculators available on internet.
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rohit

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rohit (Querist)
14 July 2014 this amendment is under which finance act
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