234B and 234C applicability

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  1. Ashok H M

    Ashok H M New Member


    My client had a net payable of Rs 11,128 after TDS. He had changed 3 jobs in the previous year and hence the short fall. The amount was duly paid before the extended deadline 5th August 16 and ITR filed. The total TDS was more than 90% of his tax liability. However the IT assessment order claims that he is liable for interest under 234B and 234C. Is this correct.
    Please advice.


    INVESTURU Member

    Yes, This is correct as per the provisions of the income tax act read with its' rules. This is because, if any assessee has tax due (after the adjustment of TDS/ TCS) is more than Rs. 10,000/-, then the provisions of advance tax will enact. And any violation of the same, will attract interest u/s 234b, 234c.
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