Advance tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2011 Dear Sir,

My friend has paid advance tax of Rs. 40000 for the financial year 2010 - 2011 on 13-4-2011. But the last date for making payment for advance tax is march 2011. so the advance tax should be taken for Financial year 2010 - 2011 or for the Financial year 2011 - 12

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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26 July 2011 While paying the advance tax... if the FY chosen in the challan 280 is 2010-11 then, of course this payment will be treated for 2010-11.

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2011 But once i enter in the software it is not accepting.
thanks

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CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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26 July 2011 You have to choose... self assessment tax...instead of advance tax as after 31st March, system will not accept advance tax.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 July 2011 IF FINANCIAL YEAR SELECTED IN THE CHALLAN ITNS 280 IS 2010-11 ON WHICH PAYMENT IS MADE ON 13-04-2011, SYSTEM WILL TREAT THIS AS SELF ASSESSMENT TAX ONLY. THEREFORE, ENTER THE DETAILS IN SELF ASSESSMENT COLUMN AND PROCEED ACCORDINGLY.