is sec 234b and sec234c apply
This query is : Resolved
19 July 2011
tax lia is 13000
his tds annual 120000
his tax lia more than 10000 but he did pay advance tax
his tds annual 120000
his tax lia more than 10000 but he did pay advance tax
19 July 2011
Please Clarify in detail.
19 July 2011
Since there is no 'tax payable', question of advance tax doesn't arise even though tax due is more than Rs.10,000/-.
Therefore, interest under the cited section will not apply.
Therefore, interest under the cited section will not apply.
19 July 2011
Sec 234A is applicable if tax liability is more than rs. 10000 after adjusted of TDS amount.
Message likes :
1 times
19 July 2011
Mr. jain
The threshold limit of Rs.10,000/- laid down in section 208 is not applicable to section 234A.
The threshold limit of Rs.10,000/- laid down in section 208 is not applicable to section 234A.
Message likes :
1 times
19 July 2011
THANKS SIRJI FOR RECTIFICATION
19 July 2011
I think there is some mistake in the query asked. The Tax Liability is not Rs. 13000 but Rs. 130000/- Thats why the tax liability is coming to Rs. 10000/-
20 July 2011
thanks 4 paying attention to my ques...tax libility is 13000..and tds paid is 120000..no advance tax is paid during the year..my ques is that "is interest applicable or not"..
20 July 2011
in your case interest is not applicable since tds also treated as advance tax paid while calculating of Interest under sec 234C and 234B
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- Copyright software
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Multiple trade mark
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
