Advance income-tax
This query is : Resolved
17 May 2012
I am an individual and suppose I have earned Rs. 3.5 lakhs from selling of land in May-2012 and I want to pay advance Income tax. should I pay it now or should I wait till 15th of September (last date to pay 1st installment of advance income tax)to avoid interest on Income tax ?
17 May 2012
If you pay by 15th September, interest will not be levied. It is better if you pay on 15th September or a couple of days earlier. You can use the funds in the meantime.
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