DEAR SIR,
WE COULD NOT PAY OUR ADVANCE TAX INSTALLMENT YESTERDAY, IF WE PAY IT TODAY, HOW MUCH INTEREST WILL WE HAVE TO PAY (ONE DAY'S DELAY).
how much interest will i have to pay, if I make payment today.
Arvind Sharma
(ACA)
(1432 Points)
Replied 16 June 2011
don wroy... Pay it today....
Although Int will be workout @ 1%
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 16 June 2011
| Originally posted by : Arvind | ||
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don wroy... Pay it today.... Although Int will be workout @ 1% |
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agreed
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 16 June 2011
| Originally posted by : Arvind | ||
|
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don wroy... Pay it today.... Although Int will be workout @ 1% |
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AGREED @ 1% FOR NO OF DAYS U DELAY FRM DUE DATE.
anony
(MANAGER)
(145 Points)
Replied 16 June 2011
but sir, 1% per month interest is to be paid for delay.
CA Suraj Prasad Shaw
(Chartered Accountant)
(504 Points)
Replied 16 June 2011
Agreed with above views.
Anshul
(.)
(375 Points)
Replied 16 June 2011
According to sec.234B the assessee shall be liable to pay simple intrest @ 1% for every month or part of a month......
CA. Anubhav Jaggi
(CA)
(104 Points)
Replied 16 June 2011
No interest has to be paid at the time of payment of advance tax. Late payment of advance tax will be treated as next quater advance tax. By paying extra amount as interest, it will not be treated as first quater tax.
However, interest u/s 234 is to be paid at the time of filing return for late payment.
amitmehta_ca
(CA, CMA)
(99 Points)
Replied 16 June 2011
DEAR LALIT, i WOULD LIKE TO BRING TO YOUR NOTICE THE PROVISION AS STATED U/S 234C WHICH STATES THAT IN CASE ADVANCE TAX PAID FALLS SHORT THAN INTEREST NEEDS TO BE PAID @ 1% PER MONTH FOR A PERIOD OF 3 MONTHS. I WOULD SUGGEST YOU TO PLEASE PAY INTEREST FOR 3 MONTHS WITH THE ADVANCE TAX INSTALLMENT.
Sumit Kumar
(Audit Executive)
(278 Points)
Replied 16 June 2011
sukhpreet
(study)
(67 Points)
Replied 17 June 2011
DEAR LALIT, i WOULD LIKE TO BRING TO YOUR NOTICE THE PROVISION AS STATED U/S 234C WHICH STATES THAT IN CASE ADVANCE TAX PAID FALLS SHORT THAN INTEREST NEEDS TO BE PAID @ 1% PER MONTH FOR A PERIOD OF 3 MONTHS. I WOULD SUGGEST YOU TO PLEASE PAY INTEREST FOR 3 MONTHS WITH THE ADVANCE TAX INSTALLMENT.
Pawan Kr. Tomar
(CA)
(169 Points)
Replied 17 June 2011
| Originally posted by : sukhpreet | ||
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DEAR LALIT, i WOULD LIKE TO BRING TO YOUR NOTICE THE PROVISION AS STATED U/S 234C WHICH STATES THAT IN CASE ADVANCE TAX PAID FALLS SHORT THAN INTEREST NEEDS TO BE PAID @ 1% PER MONTH FOR A PERIOD OF 3 MONTHS. I WOULD SUGGEST YOU TO PLEASE PAY INTEREST FOR 3 MONTHS WITH THE ADVANCE TAX INSTALLMENT. |
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aggred
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 18 June 2011
Just pay simple interest @ 1% p.m.....
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
