Star Ltd in whose case the due date of filing the return of income for the A.Y. 2020-21 was 30.09.2020 failed to file its return of income despite of notices issued by the A.O. The A.O. completed the assessment as per se
CS Executive · Tax Laws · PYQS · December 2021
Star Ltd in whose case the due date of filing the return of income for the A.Y. 2020-21 was 30.09.2020 failed to file its return of income despite of notices issued by the A.O. The A.O. completed the assessment as per section 144 on 24.12.2021 and determined a tax liability of ₹2,20,000 without giving credit of advance tax and TDS but before charge of interest as per sections 234A, 234B and 234C. Star Ltd. had paid advance tax of ₹40,000 and TDS of ₹ 18,000. Determine the amount of interest payable in this context as per section 234B of the Act, by Star Ltd:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax Act, 1961
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