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Filing Income Tax Return: Interest Under Section 234B Explained
23 Aug 2015, 07:06 PM IST i

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As you prepare to file your return and pay the due tax, are you surprised to see a couple of hundreds charged as interest under Section 234B of the Income Tax Act? Let's understand this interest and why it is charged in your tax return.
What is advance tax?
For those who have a tax liability in excess of Rs 10,000 in a financial year, the Income Tax Department requires them to pay advance tax. Advance tax means paying your tax dues...
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