Sir
I hv deposited a challan amount for 13500 in 05/05/2015 and did not consume it.
can i consume it in last quater of this year ??
if i do so whether any intetest liability will.come?
kindly help
Sai Prasadh (Investment advisor) (139 Points)
11 March 2017Sir
I hv deposited a challan amount for 13500 in 05/05/2015 and did not consume it.
can i consume it in last quater of this year ??
if i do so whether any intetest liability will.come?
kindly help
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 16 March 2017
Hi
Consumption of earlier paid challan against subsequent liability will amount to TDS paid before due date for which Income tax department would better appreciate the act as they got taxes much in advance than warranted and would never penalise you by levying any type of interest.
Thanks and Regards,
Manoj