Income Tax Payment

are you asking in terms of current AY:2011-12???

interest would be payable only if your current tax payable exceed Rs.10,000/- (Interest u/s 234C) . if it doesn't, then there is no question of interest.

no dhawal is not tottaly correct you would be liable to interest u/s 234A 234B 234C all of them for

234A : applicable only if you dont pay taxes by july 31st i.e last day for fiing returns .

234B if advacne tax i.e TDS  less than 90% of total tax laibility then the diffrence of them* 1%pm. if you pay taxes now 2% i.e april and may 2011, or else as you delay 1% pm extra for every month or part of month even for 1 day of a month also.

234 C (tax liability*30F%-TDS deducted upto september 2010)*3%

             (tax liability *60%-TDS deducted up to december 2010)*3%

            (tax laibility *100%-TDS deducted up to march 2011)*1%

agreed.

but i had answered assuming that he would file his returns before July 31st ..

agree with mr. NIMIT