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...
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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.
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