Interest u/s 234b

Rani (None) (211 Points)

08 February 2012  

Hello,

 

When will sec 234b come into effect? Had to pay advance tax of RS.16000/- (less than 10% of the total tax liability). Paid self assessment tax in July of that year and filed return before due date . Did not pay interest u/s 234B or 234C since amount was less than 10% of the total tax liability. Now there is a demand from ITO for payment of interest u/s 234B and 234C. Was my  assumption wrong?

 

Thanks in advance.