234B and 234C applicability

Share
Share This Thread
  1. Ashok H M

    Ashok H M New Member

    Hi

    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.

    Regards,
    Ashok
     
  2. INVESTURU

    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.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
showing interest u/s 234b and 234c, but never been liable to pay AT Income Tax Jul 25, 2016
Scope of proviso to Section 234C of Income tax Act, 1961 Income Tax Sep 17, 2014