234 b cal after income tax paid after 31-03-2012
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 May 2012
PLEASE EXPLAIN THE INTEREST CALCULATION u/s 234 b when income tax paid in the individual assesses after 31-03 of the previous year.
will u give me eg or articles on that?
will u give me eg or articles on that?
21 May 2012
If an assessee who is having liability for paying advance tax and has paid advance tax but the amount of advance tax paid by him is less than 90% of the assessed tax, then u/s 234-B of the I.T.Act 1961, simple interest @1% for every month or part of the month has to be paid from 1st April of the assessment year to the date of payment of tax.
21 May 2012
If an assessee who is having liability for paying advance tax and has paid advance tax but the amount of advance tax paid by him is less than 90% of the assessed tax, then u/s 234-B of the I.T.Act 1961, simple interest @1% for every month or part of the month has to be paid from 1st April of the assessment year to the date of payment of tax.
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Tds on building rent monthly
- 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 ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
