Karishma Jain (articles) (60 Points)
04 April 2012Assesse has paid ADVANCE TAX BY CHEQUE before 15.04 but the cheque has been cleared on 18.04
In the intimation U/S 143(1) electronically generated they have calculated INT U/S 234C,
what should the assessee do??rectification request was rejected.
Appeal????
Devendra
(Chartered Accountant)
(4775 Points)
Replied 04 April 2012
Did u mean to say the assessee paid the Advance Tax cheque before 15.03.12. If yes, then the Date of Deposit of Cheque / Presentation of Cheque is the Date of Payment of Advance Tax [Decided in CIT v Ogale Glass Works Ltd.(SC), K. Venkata Reddy v CIT (AP High Court)], . You can write a Letter to the AO stating the above mnetioned facts and also enclosing the copy of the Challan bearing the Date of Payment before 15.03.12.
But if the Advance Tax cheque is deposited after the due date ie. 15.03.12, then the Interest u/s 234C is liable.
Regards,
Devendra Kulkarni
Member
(Management)
(325 Points)
Replied 05 April 2012
The date of tendering of the cheque is important and not the date of clearance. As per SC rulings, the payment relates back to the date of tender even if the amount is cleared belatedly. Probably you should mention the date of payment as 15.3 in your return. If the computerized challan shows interest u/s 234C, then it means that the online challan date which is 18.3. is being taken by the software used by the Department. You can apply for rectification u/s 154.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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