Regarding Section 234B Interest.
This query is : Resolved
Guest
Guest
(Querist)
19 July 2010
Dear Expert(s),
A is a senior citizen (female).
A has total income of Rs.341109/- (income from other sources) after 80C decutions.
Please confirm the following :
Total Tax (including EC) Rs.14,649/-.
Less : TDS Rs. 9,138/-.
Tax Payable Rs. 5,511/-.
Why Section 234B shall not apply ?
(Is it because that the balance tax payable is less than the amount Rs.10,000/-the Section 234B does not apply ?)
I shall expect the Experts to confirm the above 'Tax Payable' amount.
A is a senior citizen (female).
A has total income of Rs.341109/- (income from other sources) after 80C decutions.
Please confirm the following :
Total Tax (including EC) Rs.14,649/-.
Less : TDS Rs. 9,138/-.
Tax Payable Rs. 5,511/-.
Why Section 234B shall not apply ?
(Is it because that the balance tax payable is less than the amount Rs.10,000/-the Section 234B does not apply ?)
I shall expect the Experts to confirm the above 'Tax Payable' amount.
20 July 2010
1) Tax payable is correct.
2) As the assessed tax ( tax payable minus TDS ) is less than Rs.10,000/- advance tax provisions do not apply and hence 234B does not attract.
2) As the assessed tax ( tax payable minus TDS ) is less than Rs.10,000/- advance tax provisions do not apply and hence 234B does not attract.
Guest
Guest
(Querist)
20 July 2010
Thank you Sir.
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