22 October 2011
there is tax laiablity in our company rs.100000/-. we didn't pay tax before 30th Sept.11,but we filled IT return showing tax payable.we are paying rs.100000/- tax in the month of oct.11 then my question is Interest is payable u/s.234A on tax payment? If yes then tell me how.if there is any attachment pl.forward me.
22 October 2011
interest u/s 234A levied when default in filling return before the due date u/s 139(1).....so in given case reurn filed before due date interest u/s 234A not levied....but provisions of sec 234B & 234C, non payment of advance tax/self assessment tax applicable on Rs.100000.