Interest u/s 234c

1926 views 4 replies

Dear all, 

please solve my query

If a company was incorporated on 11 dec. 2008 and received certificated of commencement of business on 05 Jan. 2009. Company filed return for the A/Y 2009-10 before due date declaring income 100000/-. Company has not paid any advance tax.

Whether interest u/s 234C is charged for all the four quarter (company was not in existence in first three quarter) or only 4th quarter.

 

Replies (4)

In this case company has to pay the tax due on or before 31st March 2009 since the tax paid till last day of previous year will be regarded as advance tax. If company pays tax after 31st March 2009 then interest u/s 234C will be levied.

Thanks Ketan, 

Whether interest u/s 234C is levied for all the four quarters or only for 4th quarter as company received certificate of commencement of business in 4th quarter.

Interest will be levied for the fourth quarter since the company came into existence in fourth quarter. Also the liability to pay tax became due when incomce is earned so interest cannot be levied for first three quarters.

Dear ketan,

Can you provide me the  details of section/any case laws in which it is mentioned that interest is charged after obtaining certificate of commencement of business for supporting the above query.

Thanks in advance.

 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details