Self-assessment tax or advance tax??

Hello Friends

Happy Financial Year to all.

Now,my query is - one of client has retired from govt.sevice in Dec.2012.He started receiving Provisional

pension for the same from dec.2012 ,but no tds was deducted from this pensions..so, my client was asked from their employer to pay the remaining tax theron for Dec.2012 till Feb.2013.

Also, He has recived intrest on term deposit after Tds, the same income was not considered by the employer for Form 16.

So, now my query is whether my client have to pay advance tax & interest theron or just pay remaining tax payable as self-assessment tax without any interest..one more point- because of inclusion of his income from intrest on term deposit, his tax liability has increased by Rs. 10,000as compared to when ,only salary income was considered in form 16.so, on which amount of tax, interest is payable--tax payable on salary( on which no tds was deducted) or the whole tax liability arrived at after considering interest income from fixed deposits.

Please, help.

First you compute the tax liability after considering all incomes of the assessee i.e Salary income + Pension income + Interest on FD + if any other and from such tax liability deduct TDS deducted amount from all and then i.e after deduction of TDS amount from the total tax liability it is more than Rs.10000 then you are liable for Advance tax liability and has to pay interest for non payment of advance tax.

In case if the salary amount + pension is exceeds the basic exemption limit then on the grounds of assuming TDS would be deduct by the employer so we not paid advance tax but employer not deducted TDS till the end of the period on this view you can get exemption from payment of advance tax liability since no interest liability for non payment of advance tax.

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