Pnelaty on tax from interest income

648 views 1 replies

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

Replies (1)

cHALL NO.280 for self assessment tax and you need to pay only interest under sec 234B & 234 C.There is no penalty on this amount.

 

 

 

 

 


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