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Section 234C - An Interesting One., Income Tax

Issue Id: - 3940
Dated: 22-3-2012
By:- sathyanarayanan kasinathan

Section 234C - An Interesting One.


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A company has paid the first installment(full 15%) by June 17th, instead of the stipulated June 15th. I'd like to know whether the Interest payable u/s 234C should be calculated using '3' months or only '1'month, since the delay is only 3 days.

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1 Dated: 25-3-2012
By:- GOPALJI AGRAWAL

The interest would be chargeable only for period of default not for 3 months. You may refer Panther investrade Limited Vs. CIT 


Page: 1

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