Interest u/s 234 C
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 December 2010
For a non-company assessee if first instalment of Adv Tax payable for eg. on 15.9.10 is paid one day late i.e. on 16.9.10 then interest u/s 234C is calculated for how much period?
- For one Day
- For one Month
- For 3 months
- For one Day
- For one Month
- For 3 months
24 December 2010
3 month i think as per 234C.
25 December 2010
According to bare reading of 234C it is to be charged for 3 months,
bt you have to refer Panther Intvestrade Ltd. V. CIT (2007) 160 Taxman 203 (Mumbai). According to case law interest is to be charged for the period of default only.
bt you have to refer Panther Intvestrade Ltd. V. CIT (2007) 160 Taxman 203 (Mumbai). According to case law interest is to be charged for the period of default only.
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