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243a&b

Amit Vashist (39 Points)

29 January 2018

What is the difference between 243a&243b

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 30 January 2018

*Interest under section 234A – Default in furnishing the return of Income

*Interest under section 234B- Default in payment of Advance Tax

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Amit Vashist (39 Points)
Replied 30 January 2018

Sir I am a govt salaried person what is the formula of division of tax in quarterly So That notice of 243 may not come

ajeet singh (1392 Points)
Replied 30 January 2018

if u r last year total tax liability was
abov 10000 than u need to pay advance tax quarterly either pay self assessment or tds

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 30 January 2018

Originally posted by : Amit Vashist
	Sir I am a govt salaried person what is the formula of division of tax in quarterly So That notice of 243 may not come

Yes... You are correct.

If your employer deduct TDS in your salary and It's deposited in timely then you can consider it as "ADVANCE TAX".

In case your Income not exceeded as per your Form 16 then no need any tax liabilities and the Sec 234B is not applicable. But, If you file your ITR after the Due Date then sec 234A is applicable...

Note :

In case any other Incomes will be added at the time of return then check your tax liability and It's Interests...

GOOD LUCK...