advance tax
ARUN (accountant) (36 Points)
01 September 2018
if advance tax not paid quarterly but fully paid in march, what interest to be considered.
4 Replies
Ruchika Somani
(Coaching and Practice in Tax Audit Law.)
(4429 Points)
Replied 01 September 2018
penalty on 15% of assessed tax to be charged at 3% for first quarter
45% at 3% for second
& 75% at 3% for 3rd quarter
rama krishnan
(12244 Points)
Replied 01 September 2018
interest u/s. 234b will be levied as mentioned by Ms. ruchika
Krishna Kant shah
(20 Points)
Replied 01 September 2018
the section applicable is 234 c and not 234B since 234B is applicable only of assessee hasnot paid at least 90% of assessed tax till 15 the of March .
here assesse has paid full tax in March .So,234 B isnot applicable.
here assesse has paid full tax in March .So,234 B isnot applicable.
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