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Intrest u/s 234 B

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kuldeep kumar

kuldeep kumar (Querist)
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19 July 2008 If a company paid only one instalment of advance tax of rs 11,00,000 on 16.03.08. Having tax liability after complition of assesement in september Rs 10,50,000 then is the intrest under sec. 234B will be for entire period of 6 month or there will be any relaxation, as advance tax paid till 15 march is nill. Is such advance payment is considered in calclation of intrest u/s 234B and C

Anil (Expert)
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19 July 2008 tax paid before 31st march will be considered as advance tax

so there will be interest u/s 234B

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