Whether interest u/s 234a, 234b and 234c applicable here

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2017 Hello Sir/Madam,

An individual has the following details for FY 2014-15:
1. Gross tax liability: Rs.70938/-
2. Relief u/s 89: Rs.50755/-
3. Total income tax liability: Rs.20183/-
4. TDS: Rs.26199/-
5. Refund:Rs.6020/-
His only fault is that he filed his income tax return ITR-1 late in March 2017.
Is he liable to pay interest u/s 234A, 234B and 234C.
I strongly believe that is he not liable to pay interest under any of these sections.
Please reply as soon as possible.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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30 June 2017 No he is not liable....

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2017 Thanks, madam!

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2017 Was he liable to pay advance income tax as sections 234B and 234C relate to interest for non-payment and late payment/deferement of advance tax?

RAJA P M

RAJA P M (Expert)
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30 June 2017 Yes, He ll be pay Advance tax if he not have TDS. The TDS amount is also advance Tax. If He have'not TDS then he fall all the above Interest....

Querist : Anonymous

Querist : Anonymous (Querist)

30 June 2017 Thanks. The TDS was paid by his employer in Aug-14 and May-15.

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