Milan Agrawal (Chartered Accountant) (207 Points)
16 September 2013Dear All,
As we know, the due date of depositing 1st/2nd installment of Advance Tax, as applicable to individual/companies respectively has passed yesterday, but if any company wants to deposit the advance tax today i.e. on 16.09.2013 or tomorrow on 17.09.2013, then whether it will be taken as Advance Tax of 3rd installment and the interest u/s 234C is calculated for 3 months(October'13 to December'13) or any other treatment will be followed?
Regards,
Milan Agrawal
SAURABH NENE
(Chartered Accountant)
(226 Points)
Replied 16 September 2013
As the last day for depositing Adv. Tax i.e. 15-sept-2013 was Sunday, you can deposit the tax today on 16-sept. Also there was a press release from CBDT to that effect. No interest will be levied. But if u do not pay the tax today, yes effectively you will have to pay the interest for 3 months, as the installment paid after expiry of time limit, will be considered as 2nd/3rd installment
Milan Agrawal
(Chartered Accountant)
(207 Points)
Replied 16 September 2013
Is it applicable in case on payment through Net Banking also?
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