Advance tax
SUMIT BADYAL (709 Points)
16 March 2021
hi, can we deposit advance tax after the last date? the last date is 15 March 2021.
6 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 16 March 2021
Penalty will be imposed if advance tax after due date
u/s 234C interest u/s 1% of month or part of month
u/s 234C interest u/s 1% of month or part of month
SUMIT BADYAL
(709 Points)
Replied 16 March 2021
When we make a payment of advanced tax for the year 2020-2021 assessment year will be 20-21 or 21-22
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 16 March 2021
If advance tax is paid in respect of income for FY20-21, select AY 21-22 in the form while making payment. Ensure to select advance tax option too.
sabyasachi mukherjee
(27579 Points)
Replied 17 March 2021
Sumit there are some rules pertaining to advance tax.
1. advance tax payable for a financial year is less than Rs. 10000 no advance tax is payable.
Such tax can be paid on self assessment before filing the return.
A person who has received order u/sec 210 (3) in form no.28 to pay an amount by way of advance tax should deposit such amount in installments as specified in the order.
1. advance tax payable for a financial year is less than Rs. 10000 no advance tax is payable.
Such tax can be paid on self assessment before filing the return.
A person who has received order u/sec 210 (3) in form no.28 to pay an amount by way of advance tax should deposit such amount in installments as specified in the order.
Kapadia Pravin
(17259 Points)
Replied 17 March 2021
Any time you can pay advance tax within Financial year from April to March. There will be interest under 234C for deferrment of advance tax .
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