Interest on Income Tax -234B & 234C.
This query is : Resolved
10 October 2023
Dear Sir,
There is a sudden capital gain income of Rs 2 crore in the company's account in the financial year 2023-24. Now we want to pay income tax on capital gains income. Earlier we have paid advance tax of Rs 50K in Q1 and Rs 100K in Q2. How to avoid interest under Section 234B and 234C. Are there any provisions to avoid interest in sections 234B and 234C?.
Please suggest your valuable advice in this regard.
Thanks & Regards
NK
There is a sudden capital gain income of Rs 2 crore in the company's account in the financial year 2023-24. Now we want to pay income tax on capital gains income. Earlier we have paid advance tax of Rs 50K in Q1 and Rs 100K in Q2. How to avoid interest under Section 234B and 234C. Are there any provisions to avoid interest in sections 234B and 234C?.
Please suggest your valuable advice in this regard.
Thanks & Regards
NK
11 October 2023
No... It's not possible to avoid such interest.
Better to pay as earlier as possible.
Better to pay as earlier as possible.
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