whether interest u/s 234B payable if advance tax is less tha

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anoop bhatia (Querist)
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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.

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
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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

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Vineet

Vineet (Expert)
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03 June 2011 Manoj ji is correct, there would be no interest liability.

Regards,
CA Vineet
Jodhpur

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anoop bhatia

anoop bhatia (Querist)
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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.

Ravikant

Ravikant (Expert)
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03 June 2011 yes pay net tax without any interest

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