Hi,
I have tax liability of around Rs 8000 for interest income for the financial year 2011-2012. I am under 30% slab.
This 8000 includes additional 20%(10% TDS done by bank) on my fixed deposits and 30% on saving bank interest?
My queries are:
01. Which challan should be used to deposit this tax?
02. Do i have to pay any penalty? What is the limit after which one has to pay penalty?
Thanks in advance for your replies.
Regards,
Munesh