Get 3 Yrs of CCI Pro Membership at Greater Value. Subscribe Now!

interest under section 234

Save Share

This query is : Resolved

Sandeep Kumar (Querist)

31 January 2011 sir, I want to know that how to calculate the interest on tax under section 234 A , B& C
by this exp.
if an assesse's tax is Rs. 55370/- and he deposited advance tax Rs. 33000/- dt. 25/03/2010 and tds Rs. 22664/- plz clear me what should be intt. on this tax by these figure

Selvakumar Selvaraj

Selvakumar Selvaraj (Expert)

31 January 2011 Here it is! for Companies Under section 234C
15-Jun:55370*15% - Advance tax 1+TDS = XX*3%
15-Sept:55370*45% - Advance Tax 1+2+TDS=XX*3%
15-Dec:55370*75%- Advance tax1,2,3=XX+TDS *3%
15-Mar:55370*100% - Advance tax1,2,3,4+TDS=XX*1%

234B: 55370-Advance tax-TDS=xxx*(No of Months from April to till the month of payment)

234A; 55370-Advance tax - TDS=XX*(If not filed the return in time, number of months)

Sandeep Kumar

Sandeep Kumar (Querist)

01 February 2011 thans sir

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now