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Interest on Income Tax

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..... Interest on Income Tax
Query (Issue) Started By: - Pradeep Kaushik Dated:- 25-7-2012 Last Reply Date:- 26-7-2012 Income Tax
Got 1 Reply
Income Tax
Dear All, I have Deducted the TDS on Sa .....

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..... lary 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 .....

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..... Below sheet there is two examples: S. NO. EMPLOYEE NAME SALARY INCOME AS PER FORM 16 BANK INTEREST TOTAL INCOME INCOME TAX PAYABLE TDS BY COMPANY/BANK BALANCE TAX TO BE DEPOSITED 1 CHO 2,50 .....

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..... 7,293.00 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, .....

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..... in which 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 Surend .....

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..... er 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 201 of the Act. .....

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Discussion Forum - Knowledge Sharing .....

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