Interest u/s 234 b

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2013 Assessee(individual for AY 12-13) had the following particulars:
1. Gross Tax payable: Rs. 103269
2. TDS : Rs. 72862
3. Advance paid by him is Rs. 8600 on 29/03/2012.

hE HAD EXTENDED HIS DUE DATE OF FILING RETURN U/S 143(1) TILL 31 AUGUST 2012 AND he filed his return on 31 August 2012.

plz tell me how much interest will he pay u/s 234 B

Deepak Agrawal

Deepak Agrawal (Expert)
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13 May 2013 Interest u/s.234B will be charged as Adv. tax paid Rs.8,600/- is less than 90% of assessed tax liability of Rs.30,407/-(103269-72862). Interest u/s. 234B will be charged @1% p.m. from 1 April 2012 till the month of payment of Rs.30,407/-.

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