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234 a interest

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shalini

269 Points Posted on 19 December 2020

Hi,

I am filing ITR for A.Y. 2020-21. I have a doubt. When due date of filing has been extended till Dec 31,2020 then why is income tax utility is levying interest u/s 234 A.

Please guide. Thanks

Replies (5)

Quick Summary

This discussion addresses a query regarding the levying of interest under Section 234A for the Assessment Year 2020-21, even when the filing due date was extended. The explanation clarifies that Section 234A applies to returns filed after the original due date, and the interest is calculated based on that original date, not the extended one. It also suggests that the income tax utility might be showing an error in this calculation.

sabyasachi mukherjee

Profession

19978 Points Posted on 20 December 2020

Read Sec 234A

sec 234 A specifies the follwing :
1. filing of return after due attracts interest on tax to be paid.

ayusmita

Tax consultant

3466 Points Posted on 20 December 2020

Because it is not upto date as per the new extended date of filing so they calculate the data as per old extension date
so all are getting both the interest in 234A and 234f

sabyasachi mukherjee

Profession

19978 Points Posted on 20 December 2020

I have told u applicability of Sec 234 A
Threshold limit of income for all categories of assesse stands in place.

Krishna Chaudhary

Accountant

1331 Points Posted on 09 January 2021

It's error in utility of income tax

NARENDRA

ACCOUNTS MANAGER

1041 Points Posted on 09 January 2021

You may have calculate your income & pay advance tax on time , i.e. on 15th june, 15th Sep., 15th Dec. & 15th March. If you fail to do it then interest applied on that time .