Friends,
My understanding is that if there is refund at the ITR filing stage ie assessed tax is negative then there is no interest liability under section 234B and 234C.
Is it correct.
Regards,
Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
18 July 2013Friends,
My understanding is that if there is refund at the ITR filing stage ie assessed tax is negative then there is no interest liability under section 234B and 234C.
Is it correct.
Regards,
CA. Kunal Lakhotia
(ACA)
(1006 Points)
Replied 18 July 2013
Yes u r correct if its because of TDS, if advance tax is not deposited as per the dates then there can still be 234C. 234B wont arise in any case