234 a intrest
vishak (accounts) (488 Points)
28 April 2014
sir how can we compute 234A intrest pls show one excample
Devaki Reddy
(Article assistant)
(80 Points)
Replied 28 April 2014
S.234A deals with default in furnishing the return of Income
Example: M/s. X ltd. filed income tax return of Rs. 10,000/- on 10th November. Then interest calculated as
actual date for filing returns is 30 th septmbr.
then interest is 10,000 x 1% x 2 months = 200/-.
vishak
(accounts)
(488 Points)
Replied 28 April 2014
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