nikhilgupta (Income Tax Consultant (Advocate)) (48 Points)
16 January 2016If 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.)
Deepak T Shetty
(Chartered Accountant)
(121 Points)
Replied 16 January 2016
Sec 234A is levied only for late filing of returns and not dependant on paying tax.
SARATH.T.S
(CA STUDENT)
(48 Points)
Replied 16 January 2016
IN CASE SELF ASSESSMENT TAX WAS FULLY PAID BEFORE THE DUE DATE INTEREST U/S. 234A IS NOT APPLICABLE
ronak
(CA Final & Currently in service as an Accountant )
(85 Points)
Replied 21 January 2016
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.
CAclubindia
