calculation of intt. u/s 234B & 234C be C.A soon...

hi all,

any one plz tell me howz to calculate interest U/s 234B & 234C.

if Total Tax payable is 28270/-

and Advance tax is as follows:

in sep   Nil

in Dec  5000

in march  10000




Assuming that self assessment tax is paid this month (August),

Interest u/s 234B for default in payment of advance tax is Rs.664 (1% of Rs13270 for 5 months)

Interest u/s 234C for deferment of advance tax is Rs.846

Interest u/s 234A at 1% will also be added as return is not filed by 31/07/08 (Rs.133)

I assume education cess has already been included in total tax Rs.28270.

hi sir, but till i m confused about calculation of intt. u/s 234B & 234C pls clarify me U/s 234C thanks

For 234 B: Rs.28270-15000=13270*5% (1% for every month from April to August) =Rs.664 For 234 C: Sep: 8481(30% of 28270-0)*7% (sep-march)=594 Dec: 3481(30% of28270-5000)*4%(dec-march)=139 Mar: 1308(40% of28270-10000)*1%=13 Total=594+139+13=746 Im made a mistake in calculating 234C in the prev message. Hope this is clear.
Chartered Accountant

hey look into the share files section... there is a file contributed by me.. which makes interest calculation u/s 234B/C easier... hope this will be helpful..

Good work with the interest calculator.Sunny here, had asked the interest calculation for individuals (3 instalments). I suggest that the logical solution also be understood for an exam point of view.

Computation of Interest U/s 234B Assessed Tax - 15270/- i.e.(28270 - 15000) Rounded upto multiple of 100 (always lower side) Rs.15200/-. Interest @ 1% for 5 months Rs.660/- Computation of Interest U/s 234C Tax Liability Rs28270/- 30% Payable By Sept. Rs8481 Less: Paid Nil Short Fall 8481/- Rounded upto 8400/- Interest @ 1% for 3months 252/- 60% payable by Dec Rs. 16962/- Less; Paid Rs. 5000/- Short Fall Rs. 11962/- Rounded upto Rs. 11900/- Interest @ 1% for 3 months Rs. 507/- 100 % payable by March Rs28270/- Less: Paid Rs. 15000/- Short Fall Rs. 13270/- Rounded upto Rs. 13200/- Interest @ 1 % for 1 month Rs132/- Total Interest U/S 234C 252+507+132=891/-

hello madam. can you send Interest calculator tomy ID :

anji8145 @


Thanking you


have a nice day


Your calculation of interest under 234B is very clear and thanks for the same. I infer that 30% of tax payable needs to be deposited before end-Sept, 60% ie another 30% before end-Dec, and full 100% before end-March. Pls confirm if I am right. Assuming I am right, I fail to understand the logic of paying 1 month's interest for any shortfall in March, as interest for any any such shortfall gets charged under 234C anyway. Are we getting charged doubly for March??



can any one provide me intt. calculaer for individuals u/s 234

( ID: vikashyadav1986 @ )


thanks in advance



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