Will the advance tax paid after the the due date of advance tax will be considered for calculation of interest u/s 234 B...?as the sec reads interest will be calculated from 1april till date of determination of assessment...
Menu
Interesrt u/s 234 B
Replies (2)
NO, sec 234b will not get trigerred in the previous year, however only sec 234c will be activated till 31-3 ( subject to some exception viz capital gains, lottery winning). Thereafter sec 234b will be activated
It should be noted that sec 234b get active in P.y in case of default & sec 234c gets activate in A.y in case of default in advance tax is more tha 10% of assessed tax.
Halim is right.
Advance tax paid after due date will not be considered for calculation of Interest U/s 234B.
Recent Topics :
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
- TDS on rent paid to RNOR Landlord. Can RNOR US tax
- PAN CANCELLATION OF A DISSOLVED PARTNERSHIP FIRM
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
Related Topics :
CAclubindia
