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TDS

This query is : Resolved 
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(Querist)
01 August 2009 if tax liability before TDS is 39000/- and after 2000

then interest of 234B & C are liable or not
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
01 August 2009 no, interest is not levied.
because interest is calculated on assessed tax on returned income.

Assessed tax on returned income means:
Tax on returned income XXXXXXX
Less : TDS
Less : Tax credit u/s 115JAA______________
Assessed Tax
Less : Advance tax __________________
Amount on which interest is payable XXX
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