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Section 143(1)

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This query is : Resolved

a.srinivas (Querist)
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27 May 2013 sir
i am an employee ihave filed the return on 24.07.2012 (AY- 2012-13)
I received a letter from IT Dept.
income from salary = 503365
deductions VI = 83395
total income after deductions =419970
tax payable = 24717
tds from salary cutting = 24717

now IT dept sent a letter stating to pay an amount of Rs.28842.

interest payable(234B) =3211

(234C) = 914

WHY I HAVE TO PAY THE INTEREST ,
TDS 24717 deducted from salary

please clarify

thanks®ards

srinivasa

Ganeshbabu K

Ganeshbabu K (Expert)
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27 May 2013 If you are salaried person with only salary as the sole source of income, Advance Tax would not be applicable as tax deducted at source would be taken care of by your employer. If you have other sources of income, such as, income from capital gains, shares and mutual funds, income from house property, etc… Advance Tax is mandatory.

for more clear understanding
https://www.moneycontrol.com/master_your_money/stocks_news_consumption.php?autono=629229

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