03 June 2011
Sub: whether interest u/s 234B payable if advance tax is less than Rs 10000.00
Sir/Madam,
Tax calcalated on Income is Rs 7000.00 and TDS has already been deducted of Rs 4000.00. No advance tax is paid till today 3-06-2011. I want to know whether interest u/s 234B is payable on Rs 3000.00. I want to know whether interest u/s 234B is payble if I pay the tax today.
It means I have to pay only Rs 3000.00 u/s 140A if I am filling return in june 2011 for the Assessment Year 2011-12. And there is no interest is payable u/s 234A/B/C.
CAclubindia
