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Advance tax

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(Querist)
16 July 2014 sir,
a person having income from salary and income from other sources.whether section 234B and 234c will apply or not?
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Sandeep Dharar

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Sandeep Dharar (Expert)
16 July 2014 234B & C applicable on Advance Tax.

Advance Tax - If assessee tax liability exceeds Rs. 10,000/- for the year.

So in ur case if the Tax Liability exceeds Rs. 10K and there is default in payment of Advance Tax then interest will b applicable u/s 234B and 234C.

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