Urgent-pls help

This query is : Resolved

Richa Patel (Querist)
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16 August 2012 MY QUERY IS WHETHER INTEREST U/S 234A OF IT ACT IS CHARGEABLE IN CASE WE ARE FILING RETURN NOW IN AUGUST???AS PER MY OPINION IT SHOULD NOT BE CHARGED STILL THE DATE IS ACTUALLY EXTENDED TO 31ST AUGUST...THE SYSTEM (SPECTRUM)IS CALCULATING INTEREST AS IT IS TAKING LAST DATE OF FILING RETURN AS 31ST JULY..PLZ RPLY SOON..I HAVE TO FILE RETURN OF MY CLIENT..THANK YOU IN ADVANCE

Guest

Guest (Expert)

16 August 2012 No Interest will be charged u/s 234A. I know the softwares are calculating interest but as the date is extended then no interest till august.

shivaji prasad bhimavarapu

shivaji prasad bhimavarapu (Expert)
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16 August 2012 Due Date for specified persons is extended till 31.8.2012.Check whether your client comes under this category.If his ( either individual or HUF)total income exceeds Rs.10.00 laks, due date is 31.8.2012.Else it is 31.7.2012.This could be one reason for calculating interest U/s234A. Or you may have to update the software, if it has taken care of the latest notification regarding due date.Int U/s 234A applies if your client is not a specified person.

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