3 Replies
Ramakrishna
(Financial Executive)
(438 Points)
Replied 05 August 2013
Hi All!
234B applies only in a case where there is a default in the payment of advance tax. On and from AY 2010-11, advance tax liability arise in any case only when the remainder of the tax due which after giving credit for prepaid taxes like, TDS, exceeds Rs.10,000/-. Hope it is clear.
Goodbye! Cheers!!
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