WebAug 2, 2012 · According to sec 156 a demand notice is given, in which interest under 220 (2) is calculated,but the amount in demand notice is aggregate of tax liability and … WebJan 25, 2015 · Replied 25 January 2015. For Income tax returns delay,interest on Short payment of Self assessment tax challan will be 280 Need to tick tax on regular assessment then mention the amount in interest . For Tds filings The challan will be 281. You have to select the section 192B,194 (A,,B,C,J )etc. Then need mention the amount under interest.
Example of calculation of interest u/s 220(2) - Brainly.in
WebNov 12, 2024 · There are two sections that are constantly used in TDS interest calculation: 1. Section 201 (1A)-Interest on failure to deduct tax and interest on failure to deposit deducted tax amount. 2. Section 220 (2)-Interest on failure to pay the amount demanded … WebMay 15, 2024 · Point of Deduction – Earlier of the above two dates that is 28th of Jan, 2024 but TDS is deducted on 10th of Feb, 2024. So, INTEREST FOR LATE DEDUCTION is calculated for 2months are as … jimi hendrix wait til tomorrow
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WebDec 23, 2011 · 23 December 2011 U/s 220(2) the rate of interest is one percent per month or part of the month for the AYs mentioned in the query. . Interest U/s 220(2) is payable … WebOct 12, 2010 · 3) If the amount on which interest U/S 220(2) is to be calculated, undergoes any changes due to an order of any higher authorities then the amount of interest U/S 220(2) shall also undergo changes accordingly. 4) C.I.T. can reduce or waive off interest levied or leviable U/S 220(2) if the following conditions are satisfied – WebMar 29, 2009 · Answer is Yes. Section 220(2) says If the amount demanded as per notice u/s 156 is not paid with in the period specified in that notice, the assessee shall be … jimi hendrix vinyl records for sale