Webcharged interest under section 234C of the Act. The CBDT had issued order/ circular dated 26 June 2006, directing that the Chief Commissioner of Income-tax may reduce or waive interest charged under sections 234A, 234B or 234C of the Act in case income chargeable to income-tax is received or of payment of the first or subsequent instalments of WebMay 9, 2024 · Section 234C of the Income Tax Act: Interest for deferment of advance tax. ( a) an assessee, other than the assessee referred to in clause ( b ), who is liable to pay advance tax under section 208 has failed to pay such tax or—. ( i) the advance tax paid by such assessee on its current income on or before the 15th day of June is less than ...
Bombay High Court directs waiver of section 234C interest …
WebSection 234A. Interest is imposed under Section 234A for failure to file an income tax return on time. On the unpaid tax amount, interest is levied at a rate of 1% per month or part of … WebApr 10, 2024 · Submitting fake bills intentionally can attract a penalty of 200% and interest under sections 234A, 234B and 234C of the I-T Act. ... To ensure compliance with income tax regulations when paying ... can hot showers make you lose weight
Interest u/s 234A, 234B & 234C waived off by HC due to ... - TaxGuru
WebAug 24, 2024 · Section 234C. Rate of interest. In the event of any shortage or failure to pay any instalment of advance tax, each taxpayer is responsible for paying interest at the rate of 1% every month, or a portion of a month. Simple interest is the type of interest that is charged monthly. Period. WebJun 3, 2024 · Interest under section 234A is levied on the amount of tax as determined under section 143(1) and where regular assessment is made, the tax on total income as … WebMar 5, 2024 · To make the ITR filing stress-free for the taxpayer, the Income Tax Department keeps innovating different ideas. The taxpayer has the provision to pay his tax in the form … fit jumps in bridge