27 August 2008
Whether Interest U/s 234B is leviable on Income under the head STCG. To make it clear, if in case of a salaried assessee, TDS has been deducted, he has other than salary ,bank interest and STCG. The tax on bank interest exceeds Rs 5000 , hence advance tax was to be deposited, but it has not been, so will interest u/s 234B will be levied after considering the tax on STCG or no, as in case of sec 234C interest is not levied if the shortfall in advance tax is due to capital gains.
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