Interest u/s 234b
This query is : Resolved
18 October 2011
Hi
Please provide the calculation Interest U/s 234B for the given data.
Tax Payable (Net of TDS) (A)- Rs. 29,48,500
Advance Tax Paid (B) - Rs. 9,00,000
Net payable (A-B) - Rs. 20,48,500
Self Asst. Tax Paid: Rs. 7,00,000 (13/04/2011 - 2.50 Lakhs, 3/6/2011 - 2.50 Lakhs & 12/9/2011 - 2.00 Lakhs)
Balance Self Asst. Tax paid on 28/09/2011 (13.48 Lakhs).
Whether we have to consider the part payment of self asst. tax of 7.00 lakhs for interest calculation??
regards: Saida
Please provide the calculation Interest U/s 234B for the given data.
Tax Payable (Net of TDS) (A)- Rs. 29,48,500
Advance Tax Paid (B) - Rs. 9,00,000
Net payable (A-B) - Rs. 20,48,500
Self Asst. Tax Paid: Rs. 7,00,000 (13/04/2011 - 2.50 Lakhs, 3/6/2011 - 2.50 Lakhs & 12/9/2011 - 2.00 Lakhs)
Balance Self Asst. Tax paid on 28/09/2011 (13.48 Lakhs).
Whether we have to consider the part payment of self asst. tax of 7.00 lakhs for interest calculation??
regards: Saida
18 October 2011
INTERST CALCULATION U/S 234B
TOTAL INTEREST=2048500*6%=122910
TOTAL INTEREST=2048500*6%=122910
18 October 2011
self assessment tax not consider. generally self assessment tax is paid once in your case how its three times its not clear u r query
Message likes :
1 times
18 October 2011
Hi Mr. Vishal - Thanks for the info
Whether we have to consider the part payment of self asst. tax of 7.00 lakhs for interest calculation??
Hi Mr. Govind,
- To avoid last minute burden, some of the companies pay Self Asst. tax on monthly basis. This is one of the case & paid total 4 installments...
Self Asst. Tax Paid: Rs. 7,00,000 (13/04/2011 - 2.50 Lakhs, 3/6/2011 - 2.50 Lakhs & 12/9/2011 - 2.00 Lakhs)
regards: Saida
Whether we have to consider the part payment of self asst. tax of 7.00 lakhs for interest calculation??
Hi Mr. Govind,
- To avoid last minute burden, some of the companies pay Self Asst. tax on monthly basis. This is one of the case & paid total 4 installments...
Self Asst. Tax Paid: Rs. 7,00,000 (13/04/2011 - 2.50 Lakhs, 3/6/2011 - 2.50 Lakhs & 12/9/2011 - 2.00 Lakhs)
regards: Saida
18 October 2011
Hi
Please provide the calculation Interest U/s 234B for the given data.
Tax Payable (Net of TDS) (A)- Rs. 29,48,500
Advance Tax Paid (B) - Rs. 9,00,000
Net payable (A-B) - Rs. 20,48,500
Self Asst. Tax Paid: Rs. 7,00,000 (13/04/2011 - 2.50 Lakhs, 3/6/2011 - 2.50 Lakhs & 12/9/2011 - 2.00 Lakhs)
Balance Self Asst. Tax paid on 28/09/2011 (13.48 Lakhs).
Whether we have to consider the part payment of self asst. tax of 7.00 lakhs for interest calculation??
regards: Saida
Please provide the calculation Interest U/s 234B for the given data.
Tax Payable (Net of TDS) (A)- Rs. 29,48,500
Advance Tax Paid (B) - Rs. 9,00,000
Net payable (A-B) - Rs. 20,48,500
Self Asst. Tax Paid: Rs. 7,00,000 (13/04/2011 - 2.50 Lakhs, 3/6/2011 - 2.50 Lakhs & 12/9/2011 - 2.00 Lakhs)
Balance Self Asst. Tax paid on 28/09/2011 (13.48 Lakhs).
Whether we have to consider the part payment of self asst. tax of 7.00 lakhs for interest calculation??
regards: Saida
18 October 2011
As Vishal have rightly calculated, its 1,22,910/-
And Rs.7 lacs cannot be deducted for calculation of interest under section 234B.
And Rs.7 lacs cannot be deducted for calculation of interest under section 234B.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- ITR 6 Schedule CFL and UD Issues
- Not a CA , can we prepare balance sheet
- FREELANCING ACCOUNTANT
- TDS RATE ON RENT PAID TO NRI
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- From 15CA for remittance by domestic travel agent by to Foreign Destination Management Company.
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
CAclubindia
