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Applicability of interest u/s 234-B and C, Income Tax |
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Applicability of interest u/s 234-B and C |
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Can the interest u/s 234-B and 234-C imposed where the assessment has been completed after proceedings u/s 147/148. Pl also provide the case law. Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
Interest u/s 234B would be leviable on the assessed tax in terms of the regular assessment made u/s 147 as per the explanation 2 to section 234B. But the interest u/s 234C is not leviable as the same is levied on shortfall of tax on RETURNED INCOME only not on assessed income. Page: 1 Old Query - New Comments are closed. |
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