Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Regarding Section 234B Interest.

Save Share

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.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

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.

Guest

Guest (Querist)

20 July 2010 Thank you Sir.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now