Interset u/s 234 b & c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 December 2014 Dear sir,

I am looking for interest calculation u/s 234 B & C in my following case.

For A.Y.2014-15, TOTAL Tax Payable is Rs.13,58,313/-(Including Surcharge & Cess
).
I paid Rs.12,00,000/- as self assessment tax on 16/9/14.
I have filed my return with balance tax on 30/11/14.

what is my Interest amount u/s 234 B & C?
how much i have to paid with return as a self assesment tax?

Best Regards
Naresh Poriya

PRADEEP KUMAR VATS

PRADEEP KUMAR VATS (Expert)
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27 December 2014 plz send me your mail id i will forward you the calculation.

regards
Pradeep kumar

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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28 December 2014 The Interest will be
under section 234B
Upto Sep 2014 81,498 (1358300x6x1%)
upto Nov 2014 3,166 (158300x2x1)%

Under section 234C (assumed as non corporate assessee)
For first installment 12225 (1358300x3x1%x30%)
For Second installment 25000 (1358300x3x1%x60%)
For Third installment 13583 (1358300x1x1%x100%)

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PRADEEP KUMAR VATS

PRADEEP KUMAR VATS (Expert)
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29 December 2014 Dear Kumar Mukesh

In my opinion, for section 234B, calculation will be

a) Upto september (1358313*1%*6)=81499
b) Oct-Nov (1358313-1200000)*1%*2)=3166

Regards
Pradeep Kumar

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
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29 December 2014 Dear Mr. Pradeep please update of knowledge when we are computing interest for the section 234A\B\C, income on which interest required to be computed are required to be rounded down into 100. for example 123440 and 123499 both will be treated as 123400 only.

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2015 lotts of thanks to all

Querist : Anonymous

Querist : Anonymous (Querist)

03 January 2015 Dear Pradeep Kumar,

My mail Id is canareshporiya09@gamil.com

it my pleasure to heared you.

Rgds
CA Naresh poriya