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Dear all,
what is intrest under section 234A , 234B & 234C and when it is applicable.
Sec 234A - Interest for Default in furnishing of ITR.
Sec 234B - Interest for default in payment of advance Tax.
Sec 234C - Interest for delayed payment of Advance Tax.
For details you can refer the following link:
/articles/interest-u-s-234a-234b-and-234c-15276.asp#.UpBEdSdMBIA
Paying your income tax return on time is mandatory, and if you have an outstanding tax liability, you must be panelized u/s 234A.
If the taxpayer fails to pay 10% of the liability up to completion of the financial year, he is penalized with the penalty u/s 234B.
The individual can make the liability payment of tax in four installments, if you fail to do so, you must be penalized, that’s we all known:
https://financialcontrol.in/interest-under-section-234a-234b-234c/
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