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Modified on : 6 May, 2018

Interest u/s 234 A, B and C Calculator for AY 2016-17
for Individuals, HUFs, Firms, etc.

Calculate interest under Indian Income Tax Act Section 234 A, 234 B and 234C for Non-corporate (i.e. Individual, HUF, Firm etc.) for AY 2016-17.

●  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 2016-17 : Non-corporate

Enter data in applicable unshaded cells
Change : Assessee Type / Assessment Year
Details of Tax paid and Income Tax return
1. Select Due Date for filing of Income Tax Return
2. 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 September 2015
5. Advance Tax paid during 16th September 2015 to 15th December 2015
6. Advance Tax paid during 16th December 2015 to 15th March 2016
7. Advance Tax paid during 15th March 2016 to 31st March 2016
8. Amount of shortfall in tax payment upto 31st March 2016
9. Income Tax Shortfall, if any, (shown at 8 above) paid on or before
10. Income Tax Return filed 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 September 2015 (30% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th Sept. 2015
Advance Tax Payable upto 15th December 2015 (60% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th Dec. 2015
Advance Tax Payable upto 15th March 2016 (100% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th March 2016
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 2016-17 (FY 2015-16)

For non corporate (Individuals, HUFs, Firms, Co-operatives & Local Authorities) assessees whose accounts are required to be audited30th September 2016
For salary earners and other non corporate assessees whose accounts are not required to be audited31st July 2016

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 a company, who is liable to pay advance tax under section 208 has failed to pay such tax or

  1. the advance tax paid by the assessee on his current income on or before the 15th day of September is less than thirty 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 sixty 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 thirty per cent or, as the case may be, sixty per cent of the tax due on the returned income;
  2. the advance tax paid by the assessee on his 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.

Please note that in case of salaried employees, the advance tax liability is to be computed on the income other than salary income. TDS deducted by the employer is not to be adjusted against this liability.