Regarding section 234a

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karun (Querist)
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09 February 2015 I want to ask that whether the interest under section 234A is applicable in case of Audits of A.Y 2014-15 which due date extended from 30-9-2014 to 30-11-2014 because in this case my assessee received the notice from the ITO that 234A interest is outstanding and has to pay, assessee is private ltd. co.

CS Advocate Abhishek Goyal

CS Advocate Abhishek Goyal (Expert)
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09 February 2015 Yes even though in tax audit cases deadline for filing return of income was extended it was subject to section 234A interest as per notification issued by CBDT and as per Court decision.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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09 February 2015 Yes assessee has to pay 234A interest. CBDT press release dated 26.9.2014 is clear on this issue.

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