Interset u/s 234 b

Tax queries 460 views 1 replies

Anantamoorti B P

Student CA Final

63 Points Joined February 2013

Hi All,

Whether interest U/S 234 B is to be calculated till the date of payment of taxes or till the date of filing the returns?

for ex. self assessment tax for A Y 2013-14 was paid on 25th of April 2013 by an individual. so whether interest is to be calculated only for one month or for 4 months ( from april to july) ?

Replies (1)

amit

sddsfd

116 Points Joined July 2008

Obivious up to date of payment. As even you don't file Return, and AO directly takes your case for assessment then interest is up to date of payement only