Reg: advance tax
This query is : Resolved
27 June 2013
Dear experts please help
My tax liablity -120000
Advance Tax paid - 3000
Self assesment Tax - 82970
Will i get interest u/s 234B. if, yes how much.please help.
My tax liablity -120000
Advance Tax paid - 3000
Self assesment Tax - 82970
Will i get interest u/s 234B. if, yes how much.please help.
27 June 2013
Yes you will get interest 234B
Tax liability = 120000
TDS: nil
90% of 120000=108000
but advance tax paid 3000
so 234B applicable
if you are paying self assessment tax today today
=(120000-3000)*1%*3 months
Thanks & regards
Ganesh babu k
Tax liability = 120000
TDS: nil
90% of 120000=108000
but advance tax paid 3000
so 234B applicable
if you are paying self assessment tax today today
=(120000-3000)*1%*3 months
Thanks & regards
Ganesh babu k
Message likes :
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27 June 2013
234C, and sir can u please explain the self assesment tax area alone, again
Thanks
Thanks
27 June 2013
234C also applicable..
caluculate 234 C also basing on 30%,60%,100% rates ..
refer below article for understanding
https://www.caclubindia.com/articles/interest-u-s-234a-234b-and-234c-15276.asp
self assessment tax has to be paid after considering interest...if not paid earlier to be paid now..
you may try by filling ITR it will give exact interest so that you can pay rest of tax now.
Thanks & regards
Ganesh babu k
caluculate 234 C also basing on 30%,60%,100% rates ..
refer below article for understanding
https://www.caclubindia.com/articles/interest-u-s-234a-234b-and-234c-15276.asp
self assessment tax has to be paid after considering interest...if not paid earlier to be paid now..
you may try by filling ITR it will give exact interest so that you can pay rest of tax now.
Thanks & regards
Ganesh babu k
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