Interest calculation under Sec234B

[KARTHIKEYAN TR]

I am salaried person. I switched over company in Oct-2015. Due to this, my income tax assessment was not done properly in my previous and new companies. Hence, i need to pay the tax balance of ₹ 49801.

My final tax is ₹ 514218 and TDS tax paid is ₹ 464417 and balance tax is (514218-464417=49801). Going by Sec234b, i have paid more than 90% of final tax before 31st Mar-2015 itself. i.e 464417/514218 is 90.3%. But still in ITR2 & ITR2A forms, i am getting the interest for the remaining amount of ₹ 49801. I have paid the interest and submitted my ITR-V also.

Please confirm me, whether the interest paid is correct or not. If not to pay, please suggest me how to get refund of interest paid. Thanks in advance.

AI Summary

Advance tax payment threshold: taxpayer alleges sufficient pre-year payments yet interest charged on remaining tax, seeking refund remedy. Advance tax/payment-default issue where a salaried taxpayer switched employers and contends aggregated TDS met the pre-year payment threshold to avoid interest; nonetheless interest was computed on the residual tax balance, which the taxpayer paid and reported in the return. The operative question concerns chargeability of interest despite claimed sufficiency of pre-year payments and potential procedural remedy to recover interest paid.