Interest u/s 234A

This query is : Resolved

Kinjal Pradip Sheth (Querist)
Follow

06 April 2009 An Assessee has total tax liability of Rs.49,00,000/- & due date of filing return is 30.09.2008. He files return on 30.09.2008 & pays 90% of tax on the same date.
He proposes to pay balance 10% of tax now i.e.in April'09.
Whether interest u/s 234A is applicable?
If yes, then on what amount i.e.on Rs.49,00,000/- or on remaining tax liability of 10%?

chetan soni

chetan soni (Expert)
Follow

06 April 2009 234A is applicable for delay in filling of income tax return & not on delay in payment of income tax.

Note interest u/s 234B & C will be applicable & it needs to pay along with balance tax.