Clarification - Interest U/s. 234B & 234C

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....larification - Interest U/s. 234B & 234C<br> Query (Issue) Started By: - Ashutosh Chhawchharia Dated:- 6-4-2009 Last Reply Date:- 11-4-2009 Income Tax<br>Got 3 Replies<br>Income Tax<br>Whether Interes....

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....t U/s. 234B & 234C of the Income Tax Act, 1961 is leviable where the copany has a Book Profit and Net Tax Payable if as per Section 115JB (MAT Tax) of theIncome Tax Act, 1961. Reply By Rama Krishana:....

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.... The Reply: Oh, yes, amount calculated under 115JB (MAT) minimum alternate tax on the basis of book profit is nothing but a tax which takes place when the regular tax is lower that mat. Interest u/s ....

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....234B and 234C are squarely applicable. Reply By Surender Gupta: The Reply: Yes, you need to pay interest under 234B and 234C on MAT also. Reply By Harish Chander Bhatia: The Reply: This is a much d....

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....ebatable issue. Case of Kwality Biscuit is to be referred<br> Discussion Forum - Knowledge Sharing ....