243b & 243c

Tax queries 1117 views 1 replies
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CMA B.Com CA Final
1522 Points Joined August 2008

friends i read in the economic times, thursday that the BCCI has been trying to evade tax by claiming exemptions on charitable basis, but the authorities have rejected the claims and are going to recover about 500 crores in taxes as they say that the activities of BCCI like the IPL are completely commercial and hence not to be exempted. Please give your views on this matter.

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On 02 July 2010 at 17:05 Report
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CMA B.Com CA Final
1522 Points Joined August 2008

pavan these interests are charged on the amount of tax payable.

234b is for late payment of advance tax and 234c is for short payment of the installments. There is a basic difference in both these taxes regarding the time period of charging, however both the rates of interest are 1% p.m.

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On 02 July 2010 at 17:08


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