Sec.234a
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2012
If an Assessee's Gross Total Income is more than Basic Exemption Limit but due to few deductions his Net Taxable Income is less than Exemption limit then the Assessee is not liable to pay Tax but liable to submit Return.In this case if this Assessee fails to submit return within 31st July does Sec.234A attract ? Plz. answer ASAP.
23 July 2012
234A/B/C interest is calculated on the basis of the TAX Liability of the assessee.
In the above instance as you have mentioned, the assessee is not liable to pay tax , thus the applicability of Sec 234A does not arise in the First place.
In the above instance as you have mentioned, the assessee is not liable to pay tax , thus the applicability of Sec 234A does not arise in the First place.
23 July 2012
234A/B/C interest is calculated on the basis of the TAX Liability of the assessee.
In the above instance as you have mentioned, the assessee is not liable to pay tax , thus the applicability of Sec 234A does not arise in the First place.
In the above instance as you have mentioned, the assessee is not liable to pay tax , thus the applicability of Sec 234A does not arise in the First place.
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