Sec 234b

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

28 June 2013 I have paid self assessment tax of 16000/- on 25.6.13 for ay 13-14

do i have to calculate interest under sec 234b for default in paying tax before 31.3.13 for 3 months ie upto june or 4 months ie upto july.

pl advise which is correct

16000*1%*3 or 16000*1%*4

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 June 2013 Interest U/s 234B is 16000*1%*3=480
.
You are required to pay interest U/s 234C also.
.

CS RAJESH C.CHOUDHARY

CS RAJESH C.CHOUDHARY (Expert)
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29 June 2013 Fill ITR and then calculate Tax you will get the amount of Interest U/s 234B& C

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Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2013 Thank you very much.I was also under impression that i had to pay for 3 months but in the itr2 by default the calculation is for 4 months irrespective of the date of payment.

i am confused ????

any advise

Regards

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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29 June 2013 Yes, you are still confused.
.
Advise has already been given to pay interest "for" 3 months.
.

Ganeshbabu K

Ganeshbabu K (Expert)
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02 July 2013 it is 3 months only..

if it is caluculating 4 months interest means please verify date mention in declaration sheet..

where you write place,date of filing

you might have entered a date after 1st july

Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2013 Thank you ganeshbabu.But i have entered the date as 30th june as date of filing but still the interest calculation is for 4 months.

i really do not know what to do