23 September 2011
last year my company suffers a loss of rs 43132430, this years make the profit of rs. 50270035,, our tds certificates r from 1-4-2010 to 31-3-2011 r of 3964481 & pay 1 crore od advance tax on 15-3-2011 . does it attract the penalty of interest u/s 234C
23 September 2011
Yes, As per details given by you, it clearly shows that their is default in payment of Advance Tax installments, because no advance tax has been paid on 15/06, 15/09 and 15/12 as such the penal interest u/s 234C shall be liable to pay.
CAclubindia
