Hello Friends,
If i made payment of advance tax after 15th march but before 31st march,still am i liable for interest u/s 234C????
Vaishali Bopardikar (CA final passed) (109 Points)
23 December 2009Hello Friends,
If i made payment of advance tax after 15th march but before 31st march,still am i liable for interest u/s 234C????
CA Manasa
(CA)
(1479 Points)
Replied 23 December 2009
Yes you are liable for interest u/s 234c.Any payment made before 31st march is treated as advance tax for purpose of Income tax consequently any payment made after 15th March saves you from interest u/s 234b but it will not save from levy u/s 234c.
C.Balaji
(Learner)
(1867 Points)
Replied 26 December 2009
yes... 234 B can be avoided but 234 C will definitely arise.... to avoid 234c interest pay advance tax in the specified manner i.e. installments...
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