Dear Members,
Please revert to this Query
Query: As per the notifications issued by CBDT for A.Y.2020-21, No penalty/interest u/s 234A has to be paid in case Tax liablity is upto Rs.One Lakh. In view of the above kindly ans for fllowing case:
Gross Tax Liability : One Lakh Fifty one thousand
Lumpsum Tax Self Assessment Tax deposited on 30/11/2020 : One Lakh (before filing of return)
Net Liability while filing return : Fifty one Thousand
Tax liabilty of Fidty One Thousand paid on 30/12/2020
Return Filed: 03/01/2021
Kindly guide me on Interest to be charged u/s 234A in the above case alongwith some explanation.
Regards,
CAclubindia
