234b

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suppose I am a non corporate assessee. 

my tax for the year is rs. 2,76,025 (inclusive of all cess excluding 234 A B & C)

advance tax paid- 28.09.2012- rs. 50,000     19.12.2012- rs. 50,000       06.05.2013- rs. 1,60,000

what will the amount of interest u/s 234 B if I file the return on 31.01.2014 ? and how is it calculated.

Replies (1)

Amt pd on 6th may 13 is not Advance tax, it is self asst tax. So, 90% of tax was not paid in advance, so 234B is applicable

on Rs 176025(from Apr 13 to May 13)=3521

on Rs 16025/-(from Jun 13 to jan 14)=1282

Total Rs 4803


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