MY QUESTION IS THAT IF WE PAID INTEREST ON INCOME TAX u/s 234a,b & c upto 31/10/2012 for A.Y. 2012-13, but we filed return in month of Nov-'12, SHOULD WE PAY INTEREST OF NOVEMBER MONTH ALSO?
Yogesh Kumar
(Job)
(180 Points)
Replied 01 November 2012
Interest will be paid month or a part of month thereof so you have to pay interest for november also.
Jaydip H. Trivedi
(Accounting Income Tax Servoces VAT servoces LIC services & Finance consultancy)
(184 Points)
Replied 04 November 2012
Yes, you have to pay interest for the late payment for the month of November also.
Interest is to be calculated for a month or a part of the month.
Even in case of refund of Tax, department is giving interest on part of the month.
Regards,
CAclubindia
