dear sir,
we have still pending to deposit some income tax 1.5 cr. amount. may I deposit part payment against pending tax ? if I deposit then how much save in interest on late payment of tax ?
thanks
4 Replies
veerendar singh
(tax consultant)
(3301 Points)
Replied 14 May 2021
Is it a tax arising our of assessment order?
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 14 May 2021
Yes, you may make part payment to reduce interest liability. Pay it as self assessment tax.
You may use some online interest calculator to know exact saving.
Sivaramaraju G
(Learner)
(2398 Points)
Replied 14 May 2021
If you pay advance tax after 31 march for the year April 20 to Mar 21 it will be considered as self assessment tax not treated as advance tax for the year 2020/21
Recent Topics
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
- Two GSTN under different PAN in same address
Related Threads
CAclubindia
