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Interest u/s 234b & c
Hi... An individual assesses have tax liability of 11,60,000/-.
he has not deposited any advance tax. pls calculate interest u/s 234b & 234c.
Replies (6)
Please let us know if the above includes any capital gain income. If yes, when was is accrued/received?
It's only salary income liability.
You don't have TDS credits? In that case interest is computed as under:
u/s 234C: 66,120/-
u/s 234B(till 30th June 2015): 34,800/-
Dear Rishi
Interest u/s 234c should be 42920/- for one month I.e March.
Pls confirm...
Sorry for mistake.. Rashi..
Dear Pankaj,
Interest u/s 234 C is for deferment of advance tax. Therefore, it will be calculated from the first dur date i.e. Sep 15.
A detailed working is as under:
| 30% | 348000 | 0 | 348000 | 10440 |
| 60% | 696000 | 0 | 696000 | 20880 |
| 100% | 1160000 | 0 | 1160000 | 34800 |
| 66120 |
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