interest u/s 234A under search , Income Tax

[rajeev kamal]

date of search 12.12.2009. for the financial yaer 2008-09 was not filed thogh Tax audit for the same was done till the date of search.Department issued a notice to file return u/s 153 A. Time limit to file return u/s 153A 10.10.2011. period for which interest u/s 234A will be calculated.

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[CA. Surender Gupta]

The computation of the interest under section 234A is to be done for every month or part of the month comprised in the period commencing on the day immediately following the expiry of the time allowed in the notice under section 153A. The interest under section 234B is to be computed on the amount by which the tax on the total income determined on the basis of the assessment under section 153A exceeds the tax on the total income determined under sub-section (1) of section 143 on the return filed in response to the notice issued under section 153A.

See:

2011 (2) TMI 45 - ITAT CHENNAI