Interest of 234b

"A" has paid total prepaid tax Rs.1 crore including self assessment tax Rs.75 lakh.
After assessment, AO had not credited to the Assessee for Rs.75 lakh as self assessment tax in the computation sheet after 143(3).

My contention is that should audit overtax in the amount of Rs.75 lakh including 234B &234C.

Is interest applicable of 234B and 234C on the amount Rs.75 lakh?

Umesh
Replies (2)
Quick Summary
This discussion addresses a situation where an assessee paid Rs. 1 crore in prepaid tax, including Rs. 75 lakh as self-assessment tax. However, the Assessing Officer (AO) failed to credit the Rs. 75 lakh in the computation sheet after assessment. The core question is whether interest under sections 234B and 234C is applicable on this Rs. 75 lakh amount. The consensus is that if the self-assessment tax was already paid, no interest should be levied. It's advised to file a rectification application under Section 154 with the AO to ensure the credit is given, which should then resolve any incorrect interest charges.

If self assessment tax of Rs. 75 already paid than there is no question of interest u/s 234B and 234C.
File rectification u/s 154 with AO to give credit of SA tax of Ram 75 lakh. So, eventually than interest also got removed after Credit of same
Thank you Nidhi ji

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details
Company
30 September 2026
Senior Accountant

Codeboard Technology

Chennai

B.Com

View Details
Company
10 October 2026
Accounts Associate Level 1

Abic and Mani Chartered Accountants

Kottayam

B.Com

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 08 October 2026
ARTICLE TRAINEE

S.B.G. & CO. CHARTERED ACCOUNTANTS

New Delhi

CA Inter

View Details
Company
Featured ARTICLESHIP 06 October 2026
Semi Qualified

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
05 October 2026
Senior Accountant

Vision IT Peripherals Pvt Ltd

Mumbai

B.Com

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details