Dear Amir,
I don't get what you say.
There is a addition in tax liability which increase Gross tax liability. Consequently the installment amount will change. So there will be change in interest eventhough there is no change in period of interest and percentage.
Amir
(Learner)
(4016 Points)
Replied 01 February 2010
Dear Sathyanarayan,
In case of Default in payment of Instalment of advance tax - Interest is charged u/s 234 C..
Where as in the present case We r discussing about 234 B.
Further,, Inteest u/s 234 C is charged on the basis of returned income & not on the basis of assessed income..
CAclubindia
