Adv tax 234a ,b,c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 March 2012 how it will effect on interest cal of the following case?

if adv tax is paid as on 15.03.2012 &
adv tax is paid as on 31.03.2012.

how much interest on quarter is payable u/s 234b &c? how much extent month extra int is required to pay?

daya shankar singh

daya shankar singh (Expert)
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12 March 2012 The interest would be calculated from the next day of due date till the date of payment as per the prescribed rate

Yogesh Agarwal

Yogesh Agarwal (Expert)
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12 March 2012 If Advance tax is paid after 15th March then interest liability u/s 234B may be reduced, however payment made after 15th March will not be considered for calculation of interest u/s 234C.

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