Section 234-B

How to calculate Interest under Section 234B of Income Tax Act, 1961?

Introduction (1) Interest under section 234B is attracted for non-payment of advance tax or payment of advance tax of an amount less than 90% of assessed tax. (2) The interest liability would be 1% per month or part of the month from 1st April following the financial year upto the date of determination of income […]

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