don wroy... Pay it today....

Although Int will be workout @ 1%

Originally posted by : Arvind
	don wroy... Pay it today.... Although Int will be workout @ 1%

agreed                            

Originally posted by : Arvind
	don wroy... Pay it today.... Although Int will be workout @ 1%

AGREED @ 1% FOR NO OF DAYS U DELAY FRM DUE DATE.

but sir,  1% per month interest is to be paid for delay. 

Agreed with above views.

According to sec.234B the assessee shall be liable to pay simple intrest @ 1% for every month or part of a month......

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.

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.

if there is a national holiday or suddenly holiday then u can paid tax next day without any interest.....

but in any other cases calculate simple interest @ 1%p.m or part of the month, interest is payable on assessed tax

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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.

Originally posted by : sukhpreet
	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.

 aggred

Just pay simple interest @ 1% p.m.....