Interest u/s234b & 234c
This query is : Resolved
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?
WHETHER 234B OR 234C IS APPLICABLE. PLEASE GIVE ME CALCULATION OF INTEREST?
Nikhil Kaushik
(Expert)
14 July 2014
if there is no business income, then 234B, 234C is not applicable.
Nikhil Kaushik
(Expert)
14 July 2014
senior citizens are exempted from advance tax if their is no business income
14 July 2014
but if said person is not senior citizen then how interest will be calculated
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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