Que

Ans is 5550

If estimated income tax is payable more than Rs 10000 then assessee is required to pay advance tax at the rate of :

30% of totl tax payable - on or before 15th sept

60% of total tax payable - on or before 15th december

100% - on or before 15th march

If assessee has not paid the same then he is liable to pay simple interest at the rate of 1% per

month.

In your case assessee has not paid advance tax then he is liable for interest u/s 234C :

30% of 150000 = 45000  = interest for 3 months 45000*3% = Rs 1350

60% of 150000 = 90000 = interest for 3 months  90000*3% = Rs 2700

100% of 150000 = 150000 = interest for march i.e. 1% = 150000*1% = Rs 1500

Total interest = Rs 1350+Rs 2700+Rs 1500 = Rs 5550

Regards,

Siddharth Bumb (CA CS Final)

www.facebook.com/DTandIDT

www.siddharthbumb.blogspot.com