Interest 234-A

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1 Points Posted on 29 December 2020
Am I liable to pay Interest U/s.234 A for filing IT Returns now before 31st December 2020. My IT Returns shows it as payable.
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On 29 December 2020 at 10:00 Report
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This discussion clarifies liability for Interest U/s 234A when filing Income Tax Returns after the deadline. Generally, you are not liable unless your self-assessment tax exceeds £1,00,000, in which case interest may apply from November. Unpaid advance tax as per rules also incurs liability.

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11 Points Posted on 29 December 2020
You are not be liable
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On 29 December 2020 at 10:31
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374 Points Posted on 29 December 2020
If your self assessment tax is more than 1,00,000 then your liable to pay interest from november.
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On 29 December 2020 at 10:32
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Tax consultant
5895 Points Posted on 29 December 2020
Have you any advance tax that you not paid as per rule then you will need to pay otherwise not
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On 29 December 2020 at 15:16

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