Tax & interest payment

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 August 2011 Sir
my salary income is Rs.476397,HP income is Rs.(38774) and Other Source Income is Rs.44072. I have a Tds Credit of Rs.12972 and tax paid on 14.03.2011 is Rs.5000.
Now how much amount will I have to pay and how much interest will have to pay and when is the actual due date of payment of the above tax? Please also tell me in which ITR form actually it should be filed on?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

03 August 2011 I think, the employer can be treated as an assessee in default as he has not deducted
proper tax on the salaries.
.
It is deemed that 30% standard deduction from HP Income has already been considered by you.
.
Your total income is 559240.
.
Statement of taxes:
.
Tax on Total Income with Ed. Cess 47223
.
Less: TDS 12972
.
Balance Payable 34251
.
Less: Advance Tax Paid 5000
.
Net Payable 29251
.
Interest U/s 234A.... 292
.
Interest U/s 234B .....1460
.
Interest U/s 234 C ....1205
.
Total Tax Liability =29251+292+1460+1205

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

03 August 2011 You may pay tax within this month and file return in ITR-2.

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