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Interest calculation under Sec234B, Income Tax

Issue Id: - 108937
Dated: 24-7-2015
By:- KARTHIKEYAN TR

Interest calculation under Sec234B


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I am salaried person. I switched over company in Oct-2015. Due to this, my income tax assessment was not done properly in my previous and new companies. Hence, i need to pay the tax balance of ₹ 49801.

My final tax is ₹ 514218 and TDS tax paid is ₹ 464417 and balance tax is (514218-464417=49801). Going by Sec234b, i have paid more than 90% of final tax before 31st Mar-2015 itself. i.e 464417/514218 is 90.3%. But still in ITR2 & ITR2A forms, i am getting the interest for the remaining amount of ₹ 49801. I have paid the interest and submitted my ITR-V also.

Please confirm me, whether the interest paid is correct or not. If not to pay, please suggest me how to get refund of interest paid. Thanks in advance.

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