Income Tax : Learn steps for calculating and paying advance tax for corporates, due dates for instalments and penalties for delayed payments u...
Income Tax : Discover the risks and penalties of submitting fake rent receipts to claim HRA exemptions and learn how to comply with tax regulat...
Income Tax : Learn how to calculate advance tax, payment deadlines, and exemptions. Find the steps for online payment and consequences of non-p...
Income Tax : Discover penalties and prosecutions under the Income Tax Act, 1961, including default conditions, quantum of penalties, and potent...
Income Tax : Understand when to pay advance tax, the due dates, and the consequences of late payments, including interest charges under section...
Income Tax : Request to CBDT to permit filing of Form 10IC after expiration of time limit by condoning delay Issuance of Order under Section ...
Income Tax : All Odisha Tax Advocates Association has filed an PIl before Orissa High Court with following Prayers- (i) Admit the Writ Petition...
Income Tax : At the end of May the Income Tax Return forms are released for the Assessment Year 2015-16 and same been held back by finance mini...
Income Tax : ITAT Ahmedabad grants relief to Ria Zaveri Trust, ruling that excessive surcharge imposed by CIT(A) was unjustified. Decision alig...
Income Tax : Assessee had given cash to her employee who was the supervisor or the agent who in turn made payment to the sellers of the gold an...
Income Tax : Assessee submitted share valuation report which was not as per rule 11UA but valuation of shares was done as per 'Adjusted Net Ass...
Income Tax : ITAT Jodhpur ruled in favor of Arun Agarwal, allowing exemption under Section 54B for agricultural land sale, emphasizing that par...
Income Tax : ITAT, by going through established precedents, held that AO had not recorded any dissatisfaction with assessee’s voluntary disal...
Whether the interest u/s 234B for less payment of advance tax will be levied on account of additions made to total income, consequent to retrospective amendment?
The issue under consideration is whether the request of the petitioner for waiver of interest under Section 234A, Section 234B and Section 234C of the Income Tax Act, 1961 is granted by HC or not?
Payment of advance tax is governed by sec. 207,208,209,210 and 211 of the Income Tax Act 1961. f the Income Tax Liability of any assessee is more than Rs. 10,000 in a financial year, then he is liable to pay such tax in installments during the year itself rather than paying this tax at the end of the year.
Section 234B and Section 234C provides for the interest payment, in case non-payment/short payment of advance income tax. But can the Assessing Officer enforce the payment of Advance Income Tax?
Download Interest Calculator U/s 234A, 234B, 234C of the Income Tax Act, 1961 – Date for Advance tax is nearing and all the Assessees and their Tax Consultant must be busy in calculating advance tax payable for the Month of March. In this article we are discussing Interest payable Under Section 234A, 234B, 234C of the I.T. Act for default in furnishing return of Income , default in payment of Advance tax and for deferment of Advance tax .
In this article we will discuss vivacious calculation of interest u/s 234B for default in payment of advance tax. Before proceeding ahead, it is indispensible to understand the provisions of Advance tax as pact in Sec. 207 & Sec. 208 of the Income Tax Act, 1961.
Bajrang Lal Naredi Vs ITO (ITAT Ranchi) In the instant appeal, the applicability of Section 56(2)(vii)(b) of the Act as amended by Finance Act, 2013 and applicable to AY 2014-15 in question. On a perusal of pre-amended provisions of Section 56(2)(vii)(b) of the Act, we gather that where an individual or HUF receives from any […]
The issue under consideration is whether remuneration paid to a partner acting in a representative capacity as karta of HUF is allowed u/s 40(b)?
INTEREST PAYABLE & RECEIVABLE BY THE TAXPAYER Do you know? The Income-tax Act requires that Income tax returns be filed in time, Advance tax and regular tax are paid correctly within the time prescribed. In case the assessee fails to do so, interest is chargeable under various provisions and there is no tax benefit on […]
Please find attached herewith an Excel Utility to check the Interest u/s. 234A, 234B and 234C of Income Tax Act, 1961. It’s a utility in which you need to enter very few details in just 2 minutes and you will get instantly a detailed report with descriptions as to how the interest under above mentioned sections are calculated. Hence, in 2 minutes, the calculation can be done which otherwise would have consumed your plenty of time.
