Interest under section 234b

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30 March 2013 Hi,

Please clarify my query :

If a company had paid more than 90% of the Advance Tax, whether Section 234 B shall apply. (Company had TDS to the extent of more than 92% of the assessed tax)

Company is proposing to file ITR for
AY 2011-12.

Query

Whether Section 234 B shall apply for the company, which had TDS of more than 92% of the assessed tax.

Ans : ...............

If there is any reference or URL supporting the view is highly requested.

Thanks.

30 March 2013 Tax on total income can be reduced by TDS.
Sec 234B is not applicable if TDS have morethan 90%



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