Intt. u/s 234b and 234c

This query is : Resolved

babloo (Querist)
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21 September 2017 I ASK FOLLOWING QUERY ON INCOME TAX -E NIVARAN FORM .

"AS PER INTIMATION U/S 143(1)BY REFERENCE NO.CPC/1718/A1/1710327803 INTEREST U/S 234B AND 234C HAS BEEN CHARGED. SINCE TOTAL TAX LIABILITY AS PER MY RETURN AND AS COMPUTED U/S 143(1) BOTH IS SAME i.e. RS. 201831.00 AND TDS IS Rs. 221332.00.SO INTEREST U/S 234B CAN NOT BE CHARGED AS MY TDS AMOUNT IS MORE THAN MY TAX LIABILITY AMOUNT. INTT. U/S 234B IS CALCULATED on 1 PERCENT ON ASSESSED TAX LESS ADVANCE TAX. SINCE MY ASSESSED TAX IS NIL SO INTEREST U/S 234B CAN NOT BE CHARGED. SIMILARLY INTEREST U/S 234C CAN ALSO BE NOT CHARGED. REFUND AS PER MY RETURN IS RS. 19,500.00.AND AS PER INTIMATION U/S 143(1) IS RS. 16,793.00.SO PLEASE REFUND THE DIFFERENCE AMOUNT RS. 2,708.00 (19,500-16,793) WHICH IS CHARGED U/S 234B AND 234C. U/S 234B RS. 1,196.00 AND U/S 234C RS. 1,512.00 HAS BEEN CHARGED.

IN REPLY THEY SAY THAT INTT. IS PROPERLY CALCULATED U/S 234 B AND C.
Please guide me whether inn u/s 234B AND C CAN BE CHARGED WHEN THERE IS REFUND DUE. AND HOE TO CLAIM REFUND THAT IS DEDUCTED IN LINE

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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21 September 2017 Date of TDS deduction & ADVANCE TAX

RAJA P M

RAJA P M (Expert)
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21 September 2017 In case TDS deposited dates may be later after March.... Check it your tds deposit date...

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Manian

Manian (Expert)
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21 September 2017 Interest u/s. 234b and 234c are charged for many Assesses whose 100% income is from salary. TDS being deducted regularly by Employer and remitted to tax authorities every month. Where is the question of interest u/s. 234 b and c. As pointed out by you in many of the cases TDS deducted was more than tax liability. God alone knows how the IT Authorities are computing the interest!!!