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Income Tax - Highlights / Catch Notes

Home Highlights January 2017 Year 2017 This

Interest charged u/s.234B - advance tax - the revenue can levy ...

Income Tax

January 6, 2017

Interest charged u/s.234B - advance tax - the revenue can levy the interest only on the total income declared in the returns and not on the income assessed and determined by the A.O. to that extent - AT

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  3. Settlement Commission is authorized to levy interest u/s 234B on additional amount of assessed tax u/s 245D over declared income u/s 245C - HC

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  8. Levy of interest under section 234C - It is pertinent to note that provisions of section 234C of the Act refers to the term “returned income” in comparison to the...

  9. Tax liability due to MAT u/s 115JB is subject to advance tax and in case of failure to deposit advance tax, interest u/s 234B is payable - SC

  10. 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...

 

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