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Modified on : 6 May, 2018

Interest u/s 234 A, B and C Calculator
for Individuals, HUFs, Firms, etc. for AY 2017-18

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 2017-18.

Interest u/s 234 A, B and C Calculator AY 2017-18 : Non-corporate

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. 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 Sep. 2016
6. Advance Tax paid during 16th Sep. 2016 to 15th Dec. 2016
7. Advance Tax paid during 16th Dec. 2016 to 15th Mar. 2017
8. Advance Tax paid during 16th Mar. 2017 to 31st Mar. 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. Income Tax Return filed on or before
Calculation of Interest Payable u/s 234 A
No. of months for which interest is payable on shortfall @ 1% per month
Interest Payable under Section 234 A
Calculation of Interest Payable u/s 234 B
No. of months for which interest is payable on shortfall @ 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 Sep. 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 Dec. 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 Mar. 2017 (100% of Total Tax Liability)
Shortfall in Advance Tax payment
Interest Payable u/s 234 C on shortfall in tax payment upto 15th Mar. 2017
Total Interest payable u/s 234 C
Total Interest payable u/s 234 A, 234 B and 234 C
Important : This calculator is an easy online tool for quick basic calculation and cannot give correct calculation in all circumstances. The exact calculation may be made after taking into account all applicable provisions of Income Tax Act / 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 2017-18 (FY 2016-17)

For non corporate (Individuals, HUFs, Firms, Co-operatives & Local Authorities) assessees whose accounts are required to be audited30th September 2017
For salary earners and other non corporate assessees whose accounts are not required to be audited31st July 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 : Interest payable for deferment of advance tax

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.