21 September 2009
Plz. answer the following :- If any Assessee does not submits Advance Tax in any Pr. Yr. but submits the amt. in any time in the Asstt. Yr. we know that Sec.234B is applicable.At the same time is Sec.234C is also applicable?
Interest under Sec 234 B is payable if atleast 90% of assessed tax is not paid within the financial year.
And interest under section 234c is payable if advance tax is not paid as per the schedule mentioned. So if interest is payable under section 234 b, there must be interest under section 234 c.
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