31 May 2008
As per Return of Income filed by the assessee (Approx): Income Tax 7,50,000 Interest U/s 234A;B & C 2,50,000 Total Tax U/s 140A 10,00,000
Return Processed by the Assessing Officer: Income Tax 15,00,000 Interest U/s 234A;B & C 3,00,000 Total Tax 18,00,000
my question is how to adjust the tax & interest i., Rs. 7,50,000/- & Rs. 2,50,000/- how to adjust againest liability of Rs. 18,00,000/-. Any notification/clarification in this regard.
31 May 2008
the total amount of tax paid amount, first should be adusted for interest then the remaining amount will be adusted towards tax liability amount.
CAclubindia
