Tax

426 views 3 replies

if a company make advance tax which is less than 90% for what period the interest will be charged u/s 234 C

Replies (3)

There is nothing below 90% for company. If amount paid --

Interest Payable if                                         Rate                                     Period                Amount on which its payable

On or before 15th June is < 12%         Simple Interest of 1% pm       3 Months                    15% (a-b)-c   

On or before 15th Sept  is < 36%        Simple Interest of 1% pm        3 Months                    45% (a-b)-d

On or before 15th Dec   is  < 75%        Simple Interest of 1% pm       3 Months                    75% (a-b)-e

On or before 15th Mar    is < 100%       Simple Interest of 1% pm          -----                          100% (a-b)-f

 

a = tax on total Income declared in ITR

b = tax deducted/collected at source

c = Advance tax paid on or before 15th June

c = Advance tax paid on or before 15th Sept

c = Advance tax paid on or before 15th Dec

f = Advance tax paid on or before 15th March

 

 

 

Agree with Divya

 

Yup..agree with Divya.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register