Applicability of interest u/s 234-B and C

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....pplicability of interest u/s 234-B and C<br> Query (Issue) Started By: - Sunil Jain Dated:- 26-2-2009 Last Reply Date:- 27-2-2009 Income Tax<br>Got 1 Reply<br>Income Tax<br>Can the interest u/s 234-B ....

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....and 234-C imposed where the assessment has been completed after proceedings u/s 147/148. Pl also provide the case law. Reply By CA GOPAL JI AGRAWAL: The Reply: Interest u/s 234B would be leviable on....

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.... 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 RETUR....

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....NED INCOME only not on assessed income.<br> Discussion Forum - Knowledge Sharing ....