234c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2010 Interest calculation

30%(a-b)-C,3 months,1%,15th Sept
60%(a-b)-D,3 months,1%,15th Dec
100(a-b)-E,1 month,1%,15th Mar

a-Tax on returned income
b-TDS
C,D,E-Advance tax paid upto 15th of Sept ,Dec and March.

Suppose TDS upto 15th Sept Rs100/-
from 15 Sept to 15 Dec-Rs150/-
from 15 Dec to 15 Mar-Rs75/-

whether b is total TDS (100+150+75)for the whole year or 100,150,75 respectively while calculating interest in 31st march.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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17 September 2010 TDS will be deduted not quarter wise , it will be deducted first as whole

Tax on returned income less tds = tax to be payable on which advance tax is to be paid