Interest u/s 234 A B C Calculator
for Companies - AY 2017-18

●  Interest u/s 234 A B C Calculator
●  Information - Section 234 A
●  Information - Section 234 B
●  Information - Section 234 C
Change : Assessee Type / Assessment Year

Interest u/s 234 A, B and C Calculator for Corporate assessees

Details of Income Tax Return and Tax paidEnter data in applicable unshaded cells
1. Select Due Date for filing of Income Tax Return
2. Enter Total Tax Liability for the Assessment Year
3. Amount of TDS deducted / TCS collected and utilized for the year
4. Advance Tax paid upto 15th June 2016
5. Advance Tax paid during 16th June 2016 to 15th September 2016
6. Advance Tax paid during 16th September 2016 to 15th December 2016
7. Advance Tax paid during 16th December 2016 to 15th March 2017
8. Total Tax paid during 16th March 2017 to 31st March 2017
9. Amount of shortfall in tax payment upto 31st March 2017
10. Income Tax Shortfall (shown at 9 above) paid on or before
11. Filed Income Tax return on or before
Calculation of Interest Payable u/s 234 A
Number of months for which interest is payable on shortfall amount @ 1% per month
Interest Payable under Section 234 A
Calculation of Interest Payable u/s 234 B
Number of months for which interest is payable on shortfall amount @ 1% per month
Interest Payable under Section 234 B
Calculation of Interest Payable u/s 234 C
Advance Tax Payable upto 15th June 2016 (15% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th June 2016.
(No interest payable if tax paid is 12% or more of Total Tax Liability)
Advance Tax Payable upto 15th September 2016 (45% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th Sept. 2016.
(No interest payable if tax paid is 36% or more of Total Tax Liability)
Advance Tax Payable upto 15th December 2016 (75% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th Dec. 2016
Advance Tax Payable upto 15th March 2017 (100% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th March 2017
Total Interest payable u/s 234 C
Total Interest payable u/s 234 A, 234 B and 234 C

Disclaimer: The above calculator is only to enable users / visitors of this site to have a quick and an easy access to basic calculation and does not purport to give correct calculation in all circumstances. It is advised that the exact calculation may be made as per the provisions contained in the Income Tax Act and Rules.

Section 234 A : Interest payable for default in furnishing the return of income

Where the return of income for any assessment year is furnished after the due date or is not furnished, the assessee shall be liable to pay simple interest at the rate of one per cent for every month or part of a month for the period commencing on the date immediately following the due date upto the date of furnishing the return (in cases where return is furnished after the due date) or upto the end of the Assessment Year (in cases where no return is furnished) on the amount of shortfall in total income tax payable by the assessee.

In simple words, interest @ 1% per month is payable on the amount of income tax paid after the due date for filing of the return.

Due Dates for Filing of Returns for Assessment Year 2017-17 (FY 2016-16)

Corporate assessees who are required to furnish report u/s 92E of the Income Tax Act30th November 2017
For all other Corporate assessees.30th September 2017

Section 234 B : Interest payable for default in payment of advance tax

An assessee who is liable to pay advance tax has failed to pay such tax or where the advance tax paid by such assessee is less than ninety per cent of the assessed tax, the assessee shall be liable to pay simple interest at the rate of one per cent for every month or part of a month for period from the date on which the payment of advance tax became due on the amount of shortfall in the amount of advance tax paid.

In simple words, interest @ 1% per month is payable on the amount of income tax paid after the end of the financial year.

Section 234 C ( w.e.f. 01.06.2016 ):

An assessee, other than an eligible assessee in respect of the eligible business referred to in section 44AD, who is liable to pay advance tax under section 208 has failed to pay such tax or

  1. the advance tax paid by such assessee on its current income on or before the 15th day of June is less than fifteen per cent of the tax due on the returned income or the amount of such advance tax paid on or before the 15th day of September is less than forty-five per cent of the tax due on the returned income or the amount of such advance tax paid on or before the 15th day of December is less than seventy-five per cent of the tax due on the returned income, then, the assessee shall be liable to pay simple interest at the rate of one per cent per month for a period of three months on the amount of the shortfall from fifteen per cent or forty-five per cent or seventy-five per cent, as the case may be, of the tax due on the returned income;
  2. the advance tax paid by the assessee on the current income on or before the 15th day of March is less than the tax due on the returned income, then, the assessee shall be liable to pay simple interest at the rate of one per cent on the amount of the shortfall from the tax due on the returned income.

Provided that if the advance tax paid by the assessee on the current income, on or before the 15th day of June or the 15th day of September, is not less than twelve per cent or, as the case may be, thirty-six per cent of the tax due on the returned income, then, the assessee shall not be liable to pay any interest on the amount of the shortfall on those dates.

Our Popupar Content : You may like to View / Use / Download

Tax Rates
Income Tax Slabs AY 2019-20 Income Tax Slabs AY 2018-19
Income Tax Slabs AY 2017-18 TDS Rates : AY 2019-20
Tax Calculators
Income Tax AY 2019-20 (Individual/HUF) Income Tax AY 2019-20 (Non-Individual)
Income Tax AY 2018-19 (Individual/HUF) Income Tax AY 2018-19 (Non-Individual)
Income Tax AY 2017-18 (Individual/HUF) Income Tax AY 2017-18 (Non-Individual)
Advance Tax (Non-individual) Advance Tax (Individual/HUF)
Interest u/s 234 (Non-corporates) Interest u/s 234 (Corporates)
Save Tax : AY 2019-20 TDS Calculator AY 2019-20
Taxable HRA Calculator Taxable Gratuity Calculator
Perquisite Value Calculator Indexed Cost & LTCG
LTCG on Securities AY 2019-20 STCG & LTCG : ITR format
Gold & Silver Assets Valuation Presumptive Income Calculator
Income Tax Information
Deductions: Taxable Income Taxability of Allowances
Exempt Incomes Deductions: House Property Income
Taxability of Pensioners & Sr. Citizens Taxability of Retirement Benefits
PAN & PAN Card View 26AS
SBI Lending Rates ITR mode of filing and ITR forms
Income Tax : Non-Residents
Income Tax Slabs AY 2019-20 Income Tax Slabs AY 2018-19
Income Tax Calculator AY 2019-20 Income Tax Calculator AY 2018-19
Advance Tax Calculator TDS Rates : AY 2019-20
TDS Calculator : AY 2019-20 Residential Status
PPF and SSY
PPF account - Features PPF Calculator
Sukanya Samriddhi Yojana Calculator Sukanya Samriddhi Yojana features
Fillable Forms with formulas
Income Tax forms TDS forms
PAN and TAN forms Post Office forms
RTO forms SBI forms
HDFC Bank forms ICICI Bank forms
Axis Bank forms EPF forms
NPS forms ESIC forms
KYC forms Aadhaar Enrollment Form
Vat forms for various states Trade Mark forms
Prof. Tax Rates, forms & Calculator CGAS 1988 forms
LIC forms Passport forms
Misc. Tools, Utilities and info
PO Small Savings Calculator Ramayana Prashnavali
Property Tax Delhi Calculator Bank Holidays 2018
Liberalised Remittance Scheme Forex Facilites for Residents