Advance Tax on MAT
This query is : Resolved
04 April 2009
I received a Extraordinary income which is not chargeable to Tax, being a capital receipt. However since the same is passed through the P&L, MAT gets attracted.
Since the Extraordinary income was not anticipated or received and till December end I could not estimate my total income. And thus failed to pay my advance tax, and 234 get attracted.
I’m willing pay interest u/s 234 from Jan to March 08, but can I escape my interest liability u/s 234 for the first 6 months of interest computation.
Since the Extraordinary income was not anticipated or received and till December end I could not estimate my total income. And thus failed to pay my advance tax, and 234 get attracted.
I’m willing pay interest u/s 234 from Jan to March 08, but can I escape my interest liability u/s 234 for the first 6 months of interest computation.
04 April 2009
You are refering "I" above. Please note MAT is applicable on Companies only not on the others.
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