Advance tax
This query is : Resolved
14 May 2013
For filing Income Tax returns for Senior citizes not having business income, do we have to charge interest u/s. 234B and 234C
14 May 2013
U/S 234B AND 234C BOTH ARE APPLICABLE EVEN THERE WILL BE SENIOR CITIZEN ,OR NOT HAVING BUSINESS INCOME. THESE ARE PENAL SECTION WHICH ARE LEVY WHEN SOMEONE FAIL TO PAY ADVANCE TAX IN 3 LAYER STEP.
HERE 3 LAYER STEP CALLED U/S 234A, 234B, 234C.
REGARDS,ROHIT SWAMI
HERE 3 LAYER STEP CALLED U/S 234A, 234B, 234C.
REGARDS,ROHIT SWAMI
14 May 2013
No need to charge interest since they are exempted to pay advance tax vide section 207(2) of the Income tax Act,1961.
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