agree with Mr. Harkesh Kumar..
sagar chhabra
(CA Final B.com Graduate)
(160 Points)
Replied 24 March 2012
agree with Mr. Harkesh Kumar..
Tarun M Guntanur
(Pursuing CA Final)
(299 Points)
Replied 24 March 2012
Mr.Kanwal i need to draw your attention to the wordings in Sec 201(1A). It says that interest needs to calculated for a month or part of month. If we see Rule 119A of IT Rules, it clearly explains the meaning of month or part of the month. Rule 119A also speaks as to when to calculate on a calendar basis if and only if month or part of month is not used.
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