Nitesh Gupta (Articled Assistant) (145 Points)
12 January 2012A person has filed his return of Income for A.Y. 2011-12 [Due date u/s 139(1) is 31st July, 2011] on December 31st 2011. His tax liability is Rs. 500 which he has deposited on 31st July, 2011.
What is the amount of Interest levied u/s 234A?
Please suggest.
CA Ketan Waghela
(Partner at Elite Educare)
(356 Points)
Replied 15 January 2012
Nitesh ji,
Interest u/s 234 A in this case can not be levied as SA Tax has been paid on due date. Interest under this section can not be charged simply on basis of date of filling of return as tax is paid on due date & there is no loss to the Govt.
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