Interest u/s 234b

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Dyuna Ann Toms (Querist)
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02 June 2015 For a client, a notice of demand was served increasing the income by 1 lac for ay 2012-13. so while calculating interest u/s 234B, should the interest be calculated on the new amt? from what date till when the interest has to be calculated?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 June 2015 Interest has to be calculated on the 'assessed tax'(new amount) as reduced by TDS, tax relief, MAT credit and tax paid under DTA, if any.