Calculation u/s 234 b

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2012 how to calculate 234 b on the following detail for the A.Y.2011-12?
total tax libility:-18,66,292
adv tax paid 14-09-2010--- 600,000
15-12-2010---600,000
SELF ASSESSMENT TAX PAID--
30-04-2011--600,000
28-07-2011--55,000
28-09-2011--23,070
DUE DATE FOR FILING --30-09-2011
DUE DATE FOR FILING---30-09-2011

PLEAE GUIDE ME IN REGARDS TO ABOVE CALN OF 234 B?

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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13 May 2012 Interest will be calculated as follows-

From 01/04/2011 till first self assessment tax is paid i.e 30/04/2011-

(1866300-600000-600000*1*1% = Rs. 6663

From 01/05/2011 till second self assessment tax paid i. 28/07/2011
Rs. (666300+6663-600000)*3*1% = Rs 2189
Note- Self Asst tax paid first be utilised towards interest

From 01/08/2011 till last self assessment tax paid-

(72963+2189-55000)*2*1% = 403
Net tax to be paid after 28/09/2011= Rs. 20152+403-23070= (2515)

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2012 will you guide me which section is applicable ti arrive this figure?

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CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
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17 May 2012 Section 234B only