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Income Tax : Understanding Section 234A, 234B & 234C of the Income Tax Act, 1961. Learn about advance tax payments and the importance of timely...
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The issue under consideration is whether the CIT(A) is correct in confirming addition u/s 69C of the Act on account of unexplained purchases made during the year, calculated on the basis of peak credit?
Interest Calculation of Under Section 234A, 234B And 234C of Income Tax Act, Along With Provision And Example Applicability:- Every Assessee is required to pay advance tax whose income tax liability is ₹10000 or more. Exception:- Resident senior citizen has not income under head of Profit & Gain from business and profession, is not required […]
The issue under consideration is whether the charge of interest under sections 234B and 234C on the book profit was not justified?
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 .
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.
