If Self tax is deposited on time before due date but return is filed after 30 july (Due Date) . Is Int. u/s 234A is liable??? . Is int. u/s 234A is liable upto return filling date or tax deposition date or whichever is earlier.
Nikhil Gupta (Adv.)
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Applicability of section 234a
Replies (3)
Sec 234A is levied only for late filing of returns and not dependant on paying tax.
IN CASE SELF ASSESSMENT TAX WAS FULLY PAID BEFORE THE DUE DATE INTEREST U/S. 234A IS NOT APPLICABLE
Interest is calculated on tax liability pending as on Due Date of filing of returns
If Tax Liability -- Advance tax paid -- TDS -- DTAA Deduction US 90 & 91 -- AMT/MAT credit = NIL.
then No interest can be levied.
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