Int u/s 234 b & c in itr 4

ITR 802 views 16 replies

Hi Friends,

I am filing up ITR 4 and showing income u/s 44AD for Business. while calculating tax ITR is showing me Interest u/s 234 B & C, which is not correct as Advance tax provision are not applicable for Income u/s 44AD.

How to Solve it?

Replies (16)

Is the income only from 44AD business?

It might be showing this because you are filing ITR 4 and not 4S.If you are filing ITR 4 then you must be having some other income and this interest could in respect of those other income.

I Am filing ITR 4 because exempt is more than Rs 5,000/- and other income is just Rs 2500/-.

so interest calculation should be only on other income which should be hardly Rs 100/- but its is showing me Rs 3200/-.

Yes interest calculation should have been only in respect of other income.Have you tried excel utility? Is it doing the same?

@ mitesh... can you provide me details regarding your itr. such as income under 44ad, exempt income, other income and dediction claimed. i will be happy to help you thereafter.

Inc us 44AD 6,50,000

80-c: 100000

80-D 15000

IFOS:2500

@ Z It is calculated on whole Income.

So you are saying that that income which is otherwise exempted from provisions of advance tax,will also be liable to interest which is infact compensation for delaying the advance tax to govt.?

I am saying that ITR 4 provided by income tax Department is calcuating wrong interest.

@ mitesh... you are correct... it is calculating interest... and this is wrong... though you can edit this field and change intt amt to zero... but dept. should be informed for this error.... i will be writing a mail to dept. today for this... i request you also to do the same.

Thanks for your Valuable time. please provide me email id where i can complain about the same.

You can change it to Zero but again after clicking calculate tax same value wil come.please give me email id where i can complain of the same.

email id- ask @ incometaxindia.gov.in ....... cust care no. 180042500025 / +918026500025

I am trying to call above number from yesterday but it is not rechable.

mail them..... even i am confused about this error.... i have already mailed about the error...


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register