Penal interest u/s 201


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 March 2014 Dear Experts,

I am in Confusion , how to calculate month for cal calculating penal interest u/s 201 of IT Act . please consider the following .......

Suppose date of deduction of TDS is 15 April and payment date is
Case (1) 10 May
Case(2) 20 May
Now how many no of months interest shall be charged ?

26 March 2014 in both cases 2 months.

the computation is done on calender month basis.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 March 2014 Dear sir ,
may you refer me the legal provision to your answer . so that ican also read for future purpose.

26 March 2014 the section itself use the word month or part of the month..that itself is self-explanatory..

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 March 2014 ok but sir should we not calculate the month of 30 days instead of calender month?

26 March 2014 in income tax we dont...under all the interest sections, it works on calender month basis only be it 234A, 234B, 234C etc

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
26 March 2014 ok thank you very much sir .

26 March 2014 you are welcome friend...


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



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
21 October 2026
CA INTER/ BCOM WITH EXPERIENCE

CA S KUMAR GUPTA & CO

Amritsar

CA Inter

View Details
Company
02 November 2026
Audit Executive

SRJP & Co LLP

Kochi

CA Inter

View Details
Company
12 October 2026
Finance

I-Genext Consulting Private Limited

New Delhi

CA

View Details
Company
14 October 2026
GST & TDS ASSISTANT

AGGARWAL SANJAY & ASSOCIATES

New Delhi

B.Com

View Details
Company
15 October 2026
Senior Accountant

Continental Belting Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
Featured 07 November 2026
Chartered Accountant

DPV & Associates

Chennai

CA

View Details
Company
ARTICLESHIP 22 October 2026
Articleship intern

Srinath Manikanta

Hyderabad

CA Inter

View Details