calculate_income_tax_interest
Compute penalty interest under Income Tax Sections 234A, 234B, and 234C for late filing or short advance tax payments. Enter tax liability, TDS, quarterly advance tax, and filing date to get an instant interest breakdown.
Instructions
Calculate interest under Sections 234A, 234B, 234C.
Use when computing penalty interest for late tax filing or short advance tax payments.
Args: total_tax_liability: Total tax liability tds_deducted: TDS already deducted advance_tax_paid: Dict with q1,q2,q3,q4 quarterly payments filing_date: YYYY-MM-DD when return filed (None if not filed) due_date: Due date for filing
Returns: Interest breakdown for Sections 234A, 234B, 234C.
Input Schema
| Name | Required | Description | Default |
|---|---|---|---|
| due_date | No | Due date YYYY-MM-DD | 2025-07-31 |
| filing_date | No | Filing date YYYY-MM-DD or None if not filed | |
| tds_deducted | No | TDS already deducted in INR | |
| advance_tax_paid | No | Dict with q1,q2,q3,q4 quarterly payments | |
| total_tax_liability | Yes | Total tax liability in INR |
Output Schema
| Name | Required | Description | Default |
|---|---|---|---|
No arguments | |||