Regarding Interst
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 February 2011
I had a great doubt regarding Interest.
Sec 234 A .
Why interest is collected under this section only when there is tax payable.
why the interest is not allowed on Nil tax cases? anyways its on delayed return, doesnt it meant injustice, one bears the fruit & other has to face it in case of belated returns.
Sec 234 A .
Why interest is collected under this section only when there is tax payable.
why the interest is not allowed on Nil tax cases? anyways its on delayed return, doesnt it meant injustice, one bears the fruit & other has to face it in case of belated returns.
01 February 2011
Your concern with tax payers is highly appreciated.
Had the FM of our country thought about the honest tax payers, black money lying in Swiss Banks would have come in India through proper tax route and not through Diversions like proposed amnesty schemes.
In case of Nil Returns, since there is Zero tax, mathematically interest amount will also be Zero.
In case of Refunds , IT Department is granting interest at half rates for almost half the period it retains the amount.
Any way, Its our duty to pay taxes in time like an honest tax-payer.
(let them face the results of their misdeeds, who do not pay taxes well in time.)
Had the FM of our country thought about the honest tax payers, black money lying in Swiss Banks would have come in India through proper tax route and not through Diversions like proposed amnesty schemes.
In case of Nil Returns, since there is Zero tax, mathematically interest amount will also be Zero.
In case of Refunds , IT Department is granting interest at half rates for almost half the period it retains the amount.
Any way, Its our duty to pay taxes in time like an honest tax-payer.
(let them face the results of their misdeeds, who do not pay taxes well in time.)
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
- Supply through E-commerce Operators
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Sales return eway bill
- Relief u/s Section 89
- REGARDING GST LIABILITY/....
- Specified Profession
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- STCG FOR GOLD ETFs
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
