01 September 2011
I would like to know that i have to deposit income tax of mine and yesterday was last day of munth as well as bank holiday. Now, should i deposit tax with 2 month's interest or 1 month interest ?/
01 September 2011
Interest applicable on Income tax is based on per month or part of the month basis.so no day basis calculation. even day also counted as 1 month delay and interest for 1 month only. please refer the section.234A/B/C
Querist :
Anonymous
Querist :
Anonymous
(Querist)
01 September 2011
sir, i am asking that last day of month was holiday. In that case, do we have a ground to pay August's interest only ?
if the last day of july (last date of payment) was holiday, then govt would issue notification in this regard, but when its late made by assesee then no such holidays or sundays work.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
01 September 2011
sir i am talking about yesterday. i have to deposit self assessment tax with interest but yesterday was holiday so i will deposit in this month. if i am depositing today then should i pay September's interest too or not ?