Hello Madam,
I may be wrong, but shouldn’t the 234C interest calculation for Quarter 3 be Rs. 150 ? (ie: 5,000 * 1% * 3 months).
I also have following query:
Consider a case where total tax liability is Rs. 40,000. How is interest under section 234B calculated if taxpayer pays self-assessment tax of 20,000 on 25th March 2023, Rs. 10,000 on 25th April 2023 and balance 10,000 at the time of filing return on 25th May 2023 ?
I have attached an image for better clarity w.r.t above query.
