Interest payable by the Assessee for Defaults in Furnishing the Return of Income required by a Notice under Section 148 [Section 234A(3)]

Interest payable by the Assessee for Defaults in Furnishing the Return of Income required by a Notice under Section 148 [Section 234A(3)]

Interest payable by the Assessee for Defaults in Furnishing the Return of Income required by a Notice under Section 148 [Section 234A(3)]

The interest will be payable for the period commencing on the date immediately following the expiry of time limit given in the notice under section 148



You can see here due date is 30/04/2021 ,If an assessment is made for the first time u/s 147, the assessee cannot be made liable to pay interest u/s 234A for the period for the period during which it was not to possible to file return u/s 139(4) till the issuance of notice u/s 148.

In case of any doubt, please refer to relevant provisions of the Income-tax Act









    • Related Articles

    • 234A- Interest for defaults in furnishing return of income

      234A- Interest for defaults in furnishing return of income Where the return of income for any assessment year under sub-section (1) or sub-section (4) of section 139, or in response to a notice under sub-section (1) of section 142, is furnished after ...
    • Response notice u/s 148

      Response notice u/s 148 Issue of notice where income has escaped assessment. 148. (1) Before making the assessment, reassessment or recomputation under section 147, the Assessing Officer shall serve on the assessee a notice requiring him to furnish ...
    • How to update Income Tax Auditor Software manually

      Solution: In Case of Client is using Spectrum software and wants to update the Zen Income Tax Auditor only : To resolve the error please follow the steps provided below: 1. Go to Root location of the software - "C:\Program Files (x86)\K.D.K. ...
    • 234C Interest calculation in case of senior citizen

      234C Interest not coming in case of senior citizen where no business income. The advance tax shall be payable during a financial year in every case where the amount of such tax payable by the assessee during that year, as computed in accordance with ...
    • How to select New Tax Regime in Income Tax Software?

      Form 10IE To Select New Tax Regime In Budget 2020, taxpayers were given an option to choose between the old and new tax regime. Under the new tax regime, taxpayers have an option to pay lesser tax on the total income.  That means taxpayers will not ...