Date of Payment of Advance Tax/ FBT

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Hemant Kyal (Querist)
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15 June 2009 Please tell whether on the last day of payment of tax cheque can be presented or is it the date by which the cheque must get cleared into the account of revenue.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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15 June 2009 The date of presentation for cheque for payment of tax should be taken as the date of payment of tax.

Now a days it is compulsory for companies and assessees liable for tax audit to make e payment of taxes and there the payment is credited to the central government on the same day. Hence there would not be any problem for payment date or cheque clear date in that case.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)
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15 June 2009 Also, the caveat is that the cheque should not get dishonoured.

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Date of Payment of Advance Tax/ FBT

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