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Income Tax - Highlights / Catch Notes

Home Highlights May 2013 Year 2013 This

In view of the provisions of section 140A r.w.s. 234B, the ...


Interest Calculation Based on Returned Income, Not Assessed Income, u/ss 140A and 234B.

May 1, 2013

Case Laws     Income Tax     AT

In view of the provisions of section 140A r.w.s. 234B, the interest that could have been charged/ adjusted as part of interest under section 234B will have to be calculated on the returned income but not on the basis of assessed income. - AT

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