Interest on income tax

This query is : Resolved

Sopan Dattatray Pingale (Querist)
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01 September 2014 Sir,

Please Solve My Query

1] One My Clints Propritor Filing ITR A.Y 2013-14 (F.Y 2012-13) Today 01.09.2014 Tax Payable Rs.12000/- no Advance Tax Paid Please ask me how many rs.of Interest & total liability U/S 234A,234B, & 234C

Please Suggest me

TKKKKKK

TKKKKKK (Expert)
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01 September 2014 Interest u/s 234A = 240

Interest u/s 234B = 720

Interest u/s 234C = 372

Sopan Dattatray Pingale

Sopan Dattatray Pingale (Querist)
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02 September 2014 Sir,

Please explain to me please check
1]234A-Late by 2 Month Aug & sept 12000x1%x2 month=240/-

2]234B-Minimum 90% payment in Adv.but no.Adv.charges for April-Sept=6 month
12000x1%x6month=720/-

3]234C-

a]30% adv.3600x1%x3month=108/-

b]60% adv.7200x1%x3month=216/-

c]100% adv.12000x1%x1 month=120/-

Total 234C (a+b+c)=444/- but your calculate=372 please explian & suggest to me my mistake

please reply

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TKKKKKK

TKKKKKK (Expert)
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02 September 2014 Yes, IN 234C , I have made totaling mistake. Your calculation is right. Interest u/s 234C will be 444. Go ahead.