Interest on Income Tax

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..... Dear All, I have Deducted the TDS on Salary of My staff. Now there is some Bank Interets have Added. Because of that the tax liability has been increesed. My Query is this, Do i have to add Interest u/sec 234b , 234c on the balance Tax: In Below sheet there is two examples: S. NO. EMPLOYEE NAME SALARY INCOME AS PER FORM 16 BANK INTEREST TOTAL INCOME INCOME .....

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..... TAX PAYABLE TDS BY COMPANY/BANK BALANCE TAX TO BE DEPOSITED 1 CHO 2,507,293.00 42,552.00 2,549,845.00 628,254.00 613,791.00 14,463.00 2 KYU 1,935,786.00 6,464.00 1,942,250.00 447,715.00 445,719.00 1,996.00 Please clarify, with reference of Rule or Section, in which .....

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..... case i have to add Interest on tax payment. I have received some suggestion, that if last due tax is not more than 10,000/-, there is no Interest liability. Pradeep Kaushik - Reply By Surender Gupta - The Reply = As a person liable to deduct TDS, you are not liable to pay interest u/s 234B or 234C. The only liability is on account of short deduction of TDS as interest u/s .....

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..... 201 of the Act. - Interest on Income Tax - Query Started By: - Pradeep Kaushik Dated:- 25-7-2012 Income Tax - Got 1 Reply - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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