Advance tax

This query is : Resolved

Tarun (Querist)
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02 August 2011 Dear Sir,

I am 61 years old and retired person.

My income comes from pension and bank FD interest.

My Tax liability from 01/04/2011 to 31/03/2012 is about RS 16000.

I have submitted 15H form to the bank not to deduct TDS from my FD interest.

I want to confirm whether I have to pay advance tax every quarter in EMI on Rs. 16000/- or whether I can pay tax once in a year before 31/03/2012.

Regards,
Pahlaj.

Rajeev Khetan

Rajeev Khetan (Expert)
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02 August 2011 If you are confirm your tax liability you be pay the advance tax in every quarter.

Tarun

Tarun (Querist)
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05 August 2011 Thank you for your reply. I want to understand that I have missed one quarter, so how should I go about paying my taxes.

Should I pay for 2 quarters together and then regularise it quarter on quarter.

Please advice.

Thanks and Regards,
Pahlaj.

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Rajeev Khetan

Rajeev Khetan (Expert)
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05 August 2011 No problam you shoul pay the 2 quarter and continued.