Reg Advance tax
This query is : Resolved
10 August 2010
For Calculation Interest u/s 234b for individuals precisely salary persons, whether TDS upto 30th sep, 31th Dec to be considered or FULL TDS to be considered.
10 August 2010
Interest is payable when An assessee who has paid Advance tax but the amount of advance tax is less than 90% of the assessed tax.
Interest is payable on Assessed tax less Advance Tax.
Advance tax = Any Advance tax paid + Tax Deducted at source during previous year.
Rate:
Simple Interest @1% per month for each month or part of the month.
Interest is payable on Assessed tax less Advance Tax.
Advance tax = Any Advance tax paid + Tax Deducted at source during previous year.
Rate:
Simple Interest @1% per month for each month or part of the month.
10 August 2010
Full TDS will be considered
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