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Applicability of Interest U/s. 234B & 234C on MAT , Income Tax |
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Applicability of Interest U/s. 234B & 234C on MAT |
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Whether Interest U/s. 234B & 234C is applicable on MAT Tax. If yes, please suggest proper judgement on the basis of which we can be confirmed. Posts / Replies Showing Replies 1 to 2 of 2 Records Page: 1
It is applicable, please refer circular no. 13/2001 dated Nov. 9, 2001.
MAT Tax is nothing but replaces the normal tax - therefore the provisions of interest is applicable as applicable in normal circumstances. You may visit a case of Kerala High Court: http://www.taxmanagementindia.com/visitor/detail_case_laws.asp?ID=33532 in which it was held for the purpose of section 115J, interest u/s 234B and 234C are not payable. Page: 1 Old Query - New Comments are closed. |
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