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TMI BlogInterest on Income TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... Interest on Income Tax X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... X X X X Extracts X X X X X X X X Extracts X X X X
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