234B applies when there is non payment of advance tax or advance tax is paid less.
Suppose tax liability amounts to Rs.160000/- before deducting TDS, and TDS amounts to Rs.158000/- leading to net tax payable to Rs.2000.
In such case whether interest u/s 234B would be imposed or not.
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Interest u/s 234B
Replies (2)
Advance tax provisions are not applicable since the assessed tax is only Rs 2000 which are below the ceiling limit of RS 10000/-
agreed with gaurav
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