Interest payable for deferment of advance tax

Hiiii...As per the Facts stated despite of business being started in September Advance tax should have been estimated at the beginning of the year itself. How ever you have paid the entire advance tax which provides a relief to you u/s 234B which gets attracted if the advance tax paid is than the self assessment tax. Deferment of advance tax would however be attracted though you have paid the entire tax u/s 234C for deferring the payment... So you cannot get a relief u/s 234C Interest... Suggestion is to pay in correct quantum's in the current year...I wish it would help you...!

Could uou please provide the tax and adv.tax payment details with date of payment. Also mention the date of incorporation mentioned in the PAN card

Thanks for your instant reply.

Please note that I was an employee in an organisation from April,16 to June 16.  TDS on my salary for the said period was Rs.223,307.

Thereafter, I started a small business and revenue from this business started only in October 2016.  Advance tax payable  on these income of Rs.525300/- as on 15/12/2016 was paid on 13/12/2016 which is 75%  of total tax liability.

Balance advance tax was paid on 15/03/17.

Therefore, I have complied all guidelines on Advance Tax.  Still this issue.

Seek your clarificaiton on this..

You will not be exemted from 234C which gets attracted due to deferment of Advance tax though you have calculated and paid the entire advance tax correctly

Firstly file ur itr by paying taxes... Then give an application to ur concern assessing officer regarding this fact and waive off interest... It is upon discretion on ur Assesing officer to waive off interest