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MANDATORY & PENAL INTEREST UNDER SECTIONS 234A

Income Tax - Payment of Taxes and Interest - 08 - SECTION 234A(1) INTEREST FOR DEFAULT IN FURNISHING ROI 1. CHARGEABILITY: The assessee is liable to pay interest in the following cases:- ROI is filed after the due date specified u/s 139(1); or ROI is .....

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e ROI is filed, the date of filing of ROI, (ii) In case where ROI is not filed, the date of completion of assessment u/s 144/147/153A. Note:- Part of the month shall be considered as full month. (c) Amount on which interest is payable:- Tax determine .....

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t allowed to be set off u/s 115JAA and 115JD Note: Self Assessment tax paid u/s 140A shall be deducted if it is paid on or before the due date. (In view of Supreme Court decision in case of Dr. Prannoy Roy) 3. COMPUTATION OF INTEREST FOR PAYMENT UNDE .....

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