Interest under section 234
This query is : Resolved
17 December 2012
Sir,
I have paid first installment of Advance tax U/s 208 but I failed to pay on or before due date i.e. 15 sept 2012. I paid that installment on 15 october 2012.
My query is that, interest will be levid on how many days?
thanks
I have paid first installment of Advance tax U/s 208 but I failed to pay on or before due date i.e. 15 sept 2012. I paid that installment on 15 october 2012.
My query is that, interest will be levid on how many days?
thanks
CA PARAS BAFNA
(Expert)
17 December 2012
If you pay the advance tax installment late even by a single day, interest liability for 3 months will arise. So if you pay on 15-10 or 15-12 it will not make any difference.
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