INTEREST PAYABLE BY THE TAXPAYER UNDER THE INCOME-TAX ACT Interest under Income Tax Act u/s 234A, 234B and 234C [As amended by Finance Act, 2018] Introduction of Interest under income Tax Under the Income-tax Act, different types of interests are levied for various kinds of delays/defaults. In this part, you can gain knowledge about the provisions… Read More »
IN THE ITAT JAIPUR BENCH Anil Hastakala (P.) Ltd. v. Assistant Commissioner of Income-tax, Central Circle, Alwar T.R. MEENA, ACCOUNTANT MEMBER AND LALIET KUMAR, JUDICIAL MEMBER IT APPEAL NOS.605 AND 606 (JP.) OF 2015 [ASSESSMENT YEARS 2003-04 & 2004-05] APRIL 28, 2016 P.C. Parwal, CA for the Appellant. Kailash Mangal, JCIT for the Respondent. ORDER… Read More »
Held It is clear that both the provisions are in mandatory terms and would apply automatically, as has been held by the Apex Court also in the Bhagat Construction Co. case (supra), the moment there is any shortfall in deposit of advance tax in terms of the provisions of Sections 234B and 234C of the… Read More »