interest on I tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 July 2010
please inform me how & when we calculate Intt. on Ad.I Tax , what is the Rate of Intt. please give me Example,
28 July 2010
Interest u/s 234C is to be calculated if the advance tax hasn't been sufficiently paid within the due dates.
Due dates and the amount required to be paid for
Companies
June 15th - 15% of Net tax
Sep 15th - 45% of net tax
Dec 15th - 75% of Net tax
March 15th - 100% of Net tax
Other assessees
Sep 15th - 30%
Dec 15th - 60%
Mar 15th - 100%
If the advance Taxes are not paid within the due dates,
then for the deffecient amount interest will be charged at 1% per month
i e , 3% for all the defeciencies upto march
and for the defeciency in march advance tax has to charged @ 1% only
Due dates and the amount required to be paid for
Companies
June 15th - 15% of Net tax
Sep 15th - 45% of net tax
Dec 15th - 75% of Net tax
March 15th - 100% of Net tax
Other assessees
Sep 15th - 30%
Dec 15th - 60%
Mar 15th - 100%
If the advance Taxes are not paid within the due dates,
then for the deffecient amount interest will be charged at 1% per month
i e , 3% for all the defeciencies upto march
and for the defeciency in march advance tax has to charged @ 1% only
Message likes :
1 times
28 July 2010
AGREE
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Applicability of Ind As to associate of associate
- Refund of AY 22-23
- Disallowance of Section 43B(h) to sez units
- Confusion around Form 26QB fields
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
