Whether interest u/s 234C of the Act is to be calculated based ...

Interest u/s 234C Calculated from Cheque Presentation Date, Not Clearing Date; Payment Effective Upon Encashment.

November 17, 2014

Case Laws     Income Tax     HC

Whether interest u/s 234C of the Act is to be calculated based on date of clearing of the cheque or date of presentation of the cheque - Once the cheque issued by the assessee is encashed, the payment relates back to the date of receipt of the cheque - HC

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