whether interest u/s 234B payable if advance tax is less tha
This query is : Resolved
anoop bhatia
(Querist)
03 June 2011
Sub: whether interest u/s 234B payable if advance tax is less than Rs 10000.00
Sir/Madam,
Tax calcalated on Income is Rs 7000.00 and TDS has already been deducted of Rs 4000.00. No advance tax is paid till today 3-06-2011. I want to know whether interest u/s 234B is payable on Rs 3000.00.
I want to know whether interest u/s 234B is payble if I pay the tax today.
Sir/Madam,
Tax calcalated on Income is Rs 7000.00 and TDS has already been deducted of Rs 4000.00. No advance tax is paid till today 3-06-2011. I want to know whether interest u/s 234B is payable on Rs 3000.00.
I want to know whether interest u/s 234B is payble if I pay the tax today.
CA MANOJ GUPTA
(Expert)
03 June 2011
IN THIS CASE U ARE NOT LIABLE TO PAY ADVANCE TAX NO QUESTION OF INTT UNDER SECTION 234B ARISES
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
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03 June 2011
Manoj ji is correct, there would be no interest liability.
Regards,
CA Vineet
Jodhpur
Regards,
CA Vineet
Jodhpur
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anoop bhatia
(Querist)
03 June 2011
Sir,
It means I have to pay only Rs 3000.00 u/s 140A if I am filling return in june 2011 for the Assessment Year 2011-12.
And there is no interest is payable u/s 234A/B/C.
It means I have to pay only Rs 3000.00 u/s 140A if I am filling return in june 2011 for the Assessment Year 2011-12.
And there is no interest is payable u/s 234A/B/C.
03 June 2011
yes pay net tax without any interest
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