Interest u/s 234B

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1 Points Posted on 10 October 2020
For AY 20-21, is Interest u/s 234B applicable if we have Tax Payable below Rs. 1,00,000?
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On 10 October 2020 at 14:23 Report
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This discussion clarifies the applicability of Interest under Section 234B for the Assessment Year 20-21. It confirms that Interest u/s 234B is indeed applicable even if your total tax payable is below Rs. 1,00,000. The consensus is that this interest charge applies regardless of the tax amount due.

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Tax and Business Consultant
11616 Points Posted on 11 October 2020
Yes, applicable....
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On 11 October 2020 at 05:22
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Tax consultant
5895 Points Posted on 11 October 2020
Yup applicable
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On 11 October 2020 at 13:03

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