Interest under section 234c

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8 Points Posted on 31 May 2021
under this section, while computing the short fall of an installment against the the amount due, is the TDS reflecting in my 26AS a part of the advance tax which I can deduct while calculating the shortfall ??
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On 31 May 2021 at 14:28 Report
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This discussion clarifies whether Tax Deducted at Source (TDS) shown in your 26AS statement can be considered when calculating the shortfall for advance tax under Section 234C. The consensus is that all TDS and advance tax payments should indeed be deducted before determining any shortfall. Therefore, you can deduct the TDS from your 26AS when computing your advance tax liability.

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Chartered Accountant
161 Points Posted on 31 May 2021
Yes, all TDS and advance tax should be deducted while calculating advance tax liability. And accordingly shortfall will be calculated after deducting all TDS and other advance tax payments.
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On 31 May 2021 at 15:17
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8 Points Posted on 31 May 2021
Thank you for your answer Sir !!
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On 31 May 2021 at 15:18
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Learner
2398 Points Posted on 31 May 2021
Yes, you can deduct while calculating advance tax.
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On 31 May 2021 at 17:57

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