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234 a interest

shalini (CA) (525 Points)

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

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5 Replies

sabyasachi mukherjee (26067 Points)
Replied 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) (5885 Points)
Replied 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 (26067 Points)
Replied 20 December 2020

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

1 Like

Krishna Chaudhary (Accountant) (4531 Points)
Replied 09 January 2021

It's error in utility of income tax

NARENDRA (ACCOUNTS MANAGER) (1488 Points)
Replied 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 .