The following condition are for the Financial year 2018-2019
The last date for advance tax payment for fy 2018-2019 was 15 March 2019.
When can i pay this tax and what would be the tax penalty.
Does paying the tax under self assement between 15 March and 31 March attract any penalty. if yes how to calculate penalty
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 20 March 2019
You can pay it as Advance Tax even now and save yourself from paying interest under sec 234B.
However since default has been made, you are still liable to pay interest under sec 234C.
For interest calculation, you can refer sec 234C of IT Act
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 20 March 2019
I guess you mean Sec 234F and not sec 24F.
Sec 234F for filing returns of F.Y. 18-19, shall be applicable only if you fail to file returns before due date.
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 20 March 2019
Sahil Jain (FAFD, DISA, CA)
(Practicing Chartered Accountant )
(2476 Points)
Replied 20 March 2019
Ajay Venkatesh
(Student CA Final )
(69 Points)
Replied 20 March 2019
CAclubindia
