Hello Friends .....
if an assessee who filled his beleted return but he deposit the tax liablity in deffered manner like --
total tax liablity Rs. 10 lakh,
Advance tax - Rs. 5 lakh (up to 31st march of relevent previous year)
Self Asseessment Tax - Rs 4 lakh (after due date, say 30 october )
Self Assessment Tax - Rs 1 lakh ( at the time of return filling, say 31 march )
My question is weather the interest is chargble on full amount i,e 10 lakh - 5 lakh advance tax only, or it will be calculeted after the deduction of Rs. 4 lakh.
because at the time of Return Procaessing by CPC, charged interest on full amount ( i,e 10 lakh - 5 lakh only ) for total perieod but many tax base software given the credit of self assessment tax also and interest charged on balance amount.
i think they take the advantage of Pranoy roy case, weather the said case law will apply in my case.
thanks in advance....
CAclubindia
