Interest calculation under section 234 a/b/c

oyethatsme (Very Good) (52 Points)

22 August 2011  

1) Please calculate Interest under section 234A, 234B (not sure if applicable here), 234C (not sure if applicable here):
A.Y.2011-12, Date of Filing 22-Aug-2011, Due Date:31-jul-2011,
Net Taxable Income : 524310
Tax on above : 38862
Edu cess: 1166
Total Tax & Cess: 40028
TDS Paid:
B4 15 sep 10: 12179
B4 15 Dec 10: 3385
B4 15 Mar 11: 16538
Total TDS: 32102

Also it will be great if you can clear my following doubts:

2) will the interest be calculated on pro rata basis i.e only for 22 days for the month of august or will it be calculated for the entire month (all 31 days) ?

3) In my case above entire income is salary income, and usually I pay tax via TDS deduction by my employer. This finacial year I changed my job and new employer didn't considered my 3 month income from previous employer and hence the tax due. Given that sections 234 B & 234 C come into play only when advance taxes are involved, will they be applicable to me here? I got the following examples from net to support this - In case of Sumit Bhattacharya v. Asstt. CIT (2008) 113 TTJ (Mumbai), Mumbai Tribunal has held that where an employer is bound to deduct tax at source, the employee would not be held liable for the interest liveable under Section 234B and 234C. This order was followed by ITAT Madras , in case of ACIT vs Jagdish Gagual Rangwani ITA No. 2214/Mds/2005, Assessment year 2004-05.

 

Thank You