Interest under Section 234A

HELLO

FIRST OF ALL ITS NOT BELATED ONE, FOR THE FY 2007-08 SHOULD FILE WITHIN JULY 08 IF NOT THEN WITH 31ST MARCH 09,  IF HE IS LIABLE TO PAY TAX THEN INTEREST US 234 A B C WILL COME, IF HE ALREADY PAID THEN NO NEED TO PAY INTEREST HE CAN FILE THE ITR-1 DIRECT TO DEPARTMENT....

How come it is not Belated Return under Section 139(4) which says that it has to be filed within the limites of Section 139(1). Please tell
 

CAN U TELL ME FOR THE FY 2007-08 WHEN YOU HAVE TO FILE. JULY 2008 IS THE DUEDATE FOR SALARY AND ALL THE BUSINESS OK..IF NOT FILIED THAT TIME HE WILL BE HAVING STILL MARCH 2009 TIME. IF CROSS THAT MEANS IF HE FILE CURRENT YEAR THEN IT WILL BECOME BELATED ONE...SO FROM MARCH 2008 TO MARCH 2009 YOU WILL HAVE TIME TO FILE.....AND IF NOT FILE TAX HE SHOULD FILE WITH INTEREST AND SHOULD FILE WITH IN THE MARCH,,,,

On which amt you will charge Interest?

 Interest is charged on Net tax payable ( i.e. After deducting Advance tax & TDS from Tax on total Income ). In above case if whole tax is paid through TDS then on what amt you will calculate Interest u/s 234A?

Thats what is my opinion also. Since whole of the amount is paid as TDS [even if late] on which amount we will calculate the interest.

IF HE HAS PAID WHOLE TAX THEN NO NEED TO PAY TAX OR INTEREST K,

I TOLD IF HE NOT PAID TAX THEN HE SHOULD PAY TAX WITH INTEREST, INTEREST WILL BE ON NET TAX..IF HE ALREADY PAID THE WHOLE TAX BY TDS THEN NO NEED TO PAY TAX OR INTEREST OK, DONT GET CONFUSE PLS......

I dont agree with you. Please quote sections to justify.

Yes,If he has paid all the taxes then no need to Pay interest u/s 234A ...... Bcj his duty is to submit tax and his employer already deposited to the govt.....

so no need for charging any interest.

its TDS n no tax is to be paid by d employee himself..so no interest u/s 234A for him..

The Liability to pay Interest u/s 234A arises when the assessee files the return after the due date i.e in your case 31st july. thus, 234A is applicable. However, the amount on which 234A is payable will be total tax payale less TDS already deducted less advance tax if any already paid. thus, since here whole amount of TDS is deducted, no interest u/s 234A will be charged. But, I dont agree with the point of Mr. Balu that it is not called th belated return. The return if filed after the due date i.e 31st july in the current case is said to be belated return only.

Yes Mukti is Right. I am agree with you Mukti.

HELLO MUKTI

JULY IS THE DUE DATE FOR FILING, BUT YOU WILL HAVE TIME STILL  MARCH 09, DEPARTMENT WILL NOT ACCEPT BELATED RETURNS AND FY 2007-08 IS NOT BELATED ONE..

why dont you read section 139(4) of IT act Mr. Balu. .... so that the confusion is  clear.