Interest on late payment
This query is : Resolved
22 April 2010
I am working in a pvt ltd co. our profit is showing Rs.800000/- for the financial year 2009-10. We have not paid a advance income tax. now we are planning to pay the tax what is the interest rate. and give me method of calculation of interest.
Thanks
Panduranga
Thanks
Panduranga
22 April 2010
INTEREST RATE IS 1% PER MONTH AND ONE TIME REFER SECTION 234B AND SECTION 234C OF INCOME TAX ACT
22 April 2010
RATE OF INTEREST U/S 234B IS 1% PM AND ALSO CALCULATE INTEREST U/S 234C ALSO, FOR DETAIL CALCULATION REFER SAID SEC
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
