Tax Interest or Penalty

Nithya Priya (Software Prof) (30 Points)

28 June 2008  

Hi,

I had 2 form 16 to merge, and file the return and have to pay the balance Tax amount after merge.

I had calculated for tax for 470382 taxable income with already paid total tax of 34594, as 54620,

but in some of the sites using the tax calculator they are adding up an interest or penalty, am not getting how is it getting calculated?

I had given it to an auditor he had put 3% as penalty, but its also not matching,

Can you please help in this case.

Thanks in advance,