Kindly refer to file attached herewith

Calculating Int U/s 234A is very simple.

It is calculated @ 1% p.m. for each month delayed in filling the return after the due date.(Even half a month is considered as full month.)

Due date

for all individuals - 31/07

Tax audit / partners of tax audit firms : 30/9

Hope the explanation is clear. . . !!

1% of what????

1% of total tax liability......

i.e. after adding the Edu Cess on the tax computed as per the slab rate and also after adjusting the TDS (if any).

1% of total tax payable less advance tax less TDS less rebate less mat credi available

When an assessee fails to submit their return within due date i.e.31st July of 30th Sept.,then interest u/s 234A is calculated as 1% on NET TAX PAYABLE upto the date of filing for per month or part of month.