self assessment tax
This query is : Resolved
21 July 2009
I have to pay self assessment tax of 666/- .have i to pay interest on this amount before 31st july.
regards
Goel
regards
Goel
21 July 2009
the interest is attracted when there is liability to pay the advance tax as per sec 208 i.e when total tax due is more than 5K. Now in your case (assuming this is only tax payable) total tax due is rs. 666, which is not as per the provisions of sec 208.
Hence there is no interest payable by you.
Hence there is no interest payable by you.
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