Section 234a And b

This query is : Resolved 

17 August 2007 Hi
please tell me what is section 234B and 234B when and how its implement.

Raj (Expert)
17 August 2007 Sec.234A applies where income tax return not filed in due time & interest payable @ 1% p.m till return filing date .

Sec.234B relating to Advance tax which comes in picture after 31 st march till payment date . Here interest also @1% p.m willbe applicable.

17 August 2007 Sec.234A applies where income tax return not filed in due time & interest payable @ 1% p.m from the due date till return filing date .

Sec.234B relating to Non Payment of Advance tax which comes in picture after 31 st march till payment date . Here interest also @1% p.m willbe applicable.
Calculation is different for Individual assesses and Corporate Assesses. U can refer any text book for this purpose.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries