Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights January 2023 Year 2023 This

Levy of interest u/s 234C and 234B - Estimation of income for ...

Case Laws     Income Tax

January 31, 2023

Levy of interest u/s 234C and 234B - Estimation of income for advance tax - business of Portfolio Management Services - lower authorities had not controverted the facts reported by the assessee that because of uncertainty about the equity market it cannot estimate before hand amount of performance fees as discussed supra for the purpose of calculation of advance tax. - AT

View Source

 


 

You may also like:

  1. The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

  2. Levy of interest under section 234C - It is pertinent to note that provisions of section 234C of the Act refers to the term “returned income” in comparison to the...

  3. Interest u/s 234B and 234C charged for default in payment of advance tax - assessee has submitted certificate from the Punjab National Bank that the cheques issued by...

  4. Interest u/s 234C - interest for deferment of advance tax - If on a particular due date for payment of advance tax, the facts show that there is no liability to pay...

  5. Amendment of section 234C - levy of interest - It is proposed to make consequential amendments in sub-section (1) of section 234C, in view of the amendments made in...

  6. The Income Tax Settlement Commission passed an order charging interest u/ss 234A, 234B, and 234C of the Income Tax Act. The petitioners challenged the order's...

  7. Levy of interest under section 234C - Nil return or assessed tax - it is pertinent to note that section 234C refers to the term ‘returned income’ in comparison to...

  8. Levying interest u/s 234C - Advance tax - Non-deduction of TDS by the payer - The interest income received by the assessee from IOCL was liable for deduction of tax at...

  9. Sections 132B, 140A, 153A and 234B of the Income Tax Act, 1961 were analyzed regarding adjustment of seized cash against tax liability. The appellants claimed that cash...

  10. Levy of interest u/s 234C - When advance tax paid is refunded and also interest paid under section 234B, there is no logic in making the assessee liable for interest...

  11. Assessment u/s 115JA - MAT - Levy of interest u/s 234B and 234C on retrospective levy of tax - Interest cannot be levied with retrospective effect - HC

  12. Interest u/s. 234C - advance tax - dividend has been received by the assessee only in third and fourth quarters of the financial year - the assessee had duly paid the...

  13. Characterization of receipts - Treatment of interest income from staff loans and advances, interest income from other loans and advances and miscellaneous income -...

  14. Charging of interest u/s.234C - Interest for deferment of advance tax - whether to charge interest u/s.234C only on the income disclosed in the return of income filed...

  15. Income Tax Settlement Commission order - Waiver of interest - the Settlement Commission cannot re-open its concluded proceedings by invoking Section 154 of the Act so as...

 

Quick Updates:Latest Updates