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Income Tax - Highlights / Catch Notes

Home Highlights December 2014 Year 2014 This

Charge of interest u/s 234B and 234C – “assessed tax“ is defined ...

Income Tax

December 29, 2014

Charge of interest u/s 234B and 234C – “assessed tax“ is defined to mean the tax assessed on regular assessment which means the tax determined on the application of Section 115J/115JA in the regular assessment - HC

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  4. Mat credit – MAT credit should be given before charging interest under Sections 234B and 234C of the Act - HC

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  8. Assessment u/s 115JA - MAT - Levy of interest u/s 234B and 234C on retrospective levy of tax - Interest cannot be levied with retrospective effect - HC

  9. Interest u/s 234B and 234C charged for default in payment of advance tax - assessee has submitted certificate from the Punjab National Bank that the cheques issued by...

  10. MAT - Interest u/s 234B and 234C shall be payable on failure to pay advance tax in respect of tax payable under Section 115JA/115JB.

 

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