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Interest u/s. 234b and 234c

Tax queries 986 views 1 replies

What will be the total interest amount under sec. 234B and 234 C when the tax liablity calculated @ 30% on net profit of firm is Rs. 518180/- plus cess: 15545===533725. total tds===55620 and advance tax paid on 16.12.2010 is Rs. 10000.

Replies (1)

 

please refer this calculator for computation of interest u/s 234C. Enter this amount 533725 - 55620
 

https://taxbykk.blogspot.com/2011/08/tax-calculator-for-computation-of_03.html

 
for computation of interest u/s 234B
 
533725 - 55620 - 10000 = x amount.
 
1% of x amount x (period of default starts from 1st april till the payment of self assessment tax)
 
thanks
 
kaushal
 


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