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.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

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