Advance tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 September 2011
Sir,
I would like to know that if we pay advance tax before the stipulated dat, say 15th september, then do we have to pay ineterest also for this? And if so, why? Please xplain..
I would like to know that if we pay advance tax before the stipulated dat, say 15th september, then do we have to pay ineterest also for this? And if so, why? Please xplain..
16 September 2011
No way. Why will you pay interest if you pay advance tax before due date. No penal interest for same.
17 September 2011
In the case of an individual/ partnership firm assessee's, if the advance tax paid on 15 the September is less than 30% of the tax due, assessee's are liable to pay interest on the shortfall under section 234C of the IT Act,1961 along with the self assessment tax payable.
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18 September 2011
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