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Modified on : 6 May, 2018

Interest u/s 234 A B C Calculator
for Companies for 2017-18 (AY 2018-19)

Calculate interest under Indian Income Tax Act Section 234 A, 234 B and 234C for Companies for AY 2018-19.

●  Interest u/s 234 A B C Calculator
●  Information - Section 234 A
●  Information - Section 234 B
●  Information - Section 234 C

Interest u/s 234 A, B and C Calculator AY 2018-19 : Companies

Enter data in applicable unshaded cells
Change : Assessee Type / Assessment Year
Details of Income Tax Return and Tax paid
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 2017
5. Advance Tax paid during 16th June 2017 to 15th September 2017
6. Advance Tax paid during 16th September 2017 to 15th December 2017
7. Advance Tax paid during 16th December 2017 to 15th March 2018
8. Total Tax paid during 16th March 2018 to 31st March 2018
9. Amount of shortfall in tax payment upto 31st March 2018
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 2017 (At least 15% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th June 2017.
(No interest payable if tax paid is 12% or more of Total Tax Liability)
Advance Tax Payable upto 15th September 2017 (At least 45% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th Sept. 2017.
(No interest payable if tax paid is 36% or more of Total Tax Liability)
Advance Tax Payable upto 15th December 2017 (At least 75% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th Dec. 2017
Advance Tax Payable upto 15th March 2018 (100% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th March 2018
Total Interest payable u/s 234 C
Total Interest payable u/s 234 A, 234 B and 234 C

Important : The above calculator is compiled to enable users / visitors of this site to have a quick and easy online tool for basic calculation. The calculator does not claim to give correct calculation in all circumstances. It is advised that the exact calculation may be made after taking into account all relevant 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 2018-19 (FY 2017-18)

Corporate assessees who are required to furnish report u/s 92E of the Income Tax Act30th November 2018
For all other Corporate assessees.30th September 2018

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 : Interest payable for deferment of advance tax

An assessee, (other than an assessee who declares profits and gains in accordance with the provisions of sub-section (1) of section 44AD or sub-section (1) of section 44ADA, as the case may be) 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.

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