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Interest u/s 234(C)

Gaurav Mittal (Director) (36 Points)

13 November 2009

Can somebody guide for interest calculation u/s 234(c) for the companies incoroporated on 26th July of the year.....Any pointers to case laws etc should be helpful...

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4 Replies

haridhayalan (TALLY CERTIFIED PARTNER) (1268 Points)
Replied 13 November 2009

check with files in caclub. there are so many calculators are available.

Manek Amit (370 Points)
Replied 13 November 2009

Hi find attached the following calculator

Attached File : 21 42 calculation of interest under sec 234a 234b and 234c.xls downloaded: 332 times

Gaurav Mittal (Director) (36 Points)
Replied 13 November 2009

Originally posted by :Manek Amit
"	Hi find attached the following calculator	"

Hi..I am able to do the calculation..however, the point is company incorporated on 26July...certi of incorporation recd on 1st August..PAN by 8th August...bank account opened by 15th August...it is possible to do the business and generate income and pay tax of 45% by Sept 15????

ca tarun sharma (SERVICE) (277 Points)
Replied 13 November 2009

the calculation of int for deferment of advance tax will be same irrespective of date of commencement of business though d co can not pay advance tax till date of incorporation however int u/s 234c will have to be paid by co.