Income Tax with Penalty & interest

Seth (M) (148 Points)

11 June 2010  

Hello,

I am salaried employee, have received form 16 from employer and was about to file the returns. I observed that after taking into consideration the "income from Savings account & Fixed Deposits", the total tax which I am suppose to pay is falling short by 2375 Rs.

i.e. I need to pay 2375 Rs. more as tax. (Even though I paid some self assessment tax on 15th March, the tax deducted by bank on Savings & FD income was at the rate 10%. Since I'm in 30% tax bracket, So I need to pay remaining 20% on that income.)

Now, my question is: Since the deadline for paying advanced tax was 15th March and I still have to pay 2375 as tax, how much should I actually pay including penalty and interest for late payment. Please help me with the calculation

 

Thanks