Please calculate the Interest u/s 234B & C
Net Tax Payable Rs.29112/- & Advance Tax Paid in Dec 5000 & in March 5000..
Its Urgent......
Ram Thakkar (CA final ) (126 Points)
16 March 2011Please calculate the Interest u/s 234B & C
Net Tax Payable Rs.29112/- & Advance Tax Paid in Dec 5000 & in March 5000..
Its Urgent......
CA ANUPAMA
(CMA, CA )
(149 Points)
Replied 16 March 2011
Net Tax Payable = 29112%
Advance Tax should be 90% = 26201
Short of Adv Tax = 16201 (26201-10000)
Interest U/s. 234 B = 16201 x 1% x 12 Months (including this march, if A.Y 2010-2011) = 1944
Interest U/s. 234 C:
29112 x 1% x 30% x 3 Months = 262
29112 x 1% x 60% x 3 Months = 524
29112 x 1% = 291 i.e., 1077
Ram Thakkar
(CA final )
(126 Points)
Replied 16 March 2011
Dear 234B not 16201 but on 19112 ...... please conform that
CAclubindia
