28 December 2010
what is the difference between sec214 and 244A in both the sec interest is paid but in 214 interest is paid @15% what is the exact difference
28 December 2010
Sec 214 intt. on refund is applicable where tax u/s 207 to 213 is excess paid to advance tax.
Sec 244A is applicable intt. on refund under other than above.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
30 December 2010
do u mean if tax liability 50000
TDS 31/3/2010 40000 Advance tax 1st quarter 5000 2nd quarter 5000 3rd quarter 5000 15000 Refund 5000 this refund is due to advance tax so 244A or 214 will apply. normally we r applying 244A for this plzclear it out great confusion.