Interest u/s 234c

finance act 2006

Thank you for the reply.

Is the limit 10,000/- only, even then?

Pay advance tax when your tax liability in a year is Rs 10,000 or more

Originally posted by : Manjunatha
	Thank you for the reply. Is the limit 10,000/- only, even then?

I think you are confusing 2 sections..U/S 234B interest on non-payment of advance tax liability is paid (i.e. if you tax liability crosses Rs. 10,000 then you pay advance tax) and u/s 234C in case u fail to pay the prescribed installment on time intervals or 90% of the liability on prescribed intervals, interest on short-fall would be charged...

In case you have any other query do feel free to ask me...

That is the advance tax limit right?

That i knw. i assume i misunderstood the question.