Advance tax
This query is : Resolved
pardeep jindal
(Querist)
15 July 2015
if a co. is incorporated in sep. of any year then whether first installment of advance tax june will be applicable. and interest 234 C will be charged or not
15 July 2015
The question of interest arises only if there is a shortfall in paying advance tax.
If you pay not less than 90% of the tax within 15th March (Last quarter), no interest on advance tax payment will be applicable.
Also, since the business is not existent on the first installment applicable date, it is rational that you can not be levied any interest on that.
If you pay not less than 90% of the tax within 15th March (Last quarter), no interest on advance tax payment will be applicable.
Also, since the business is not existent on the first installment applicable date, it is rational that you can not be levied any interest on that.
CA.Karan Dawar
(Expert)
15 July 2015
Agree with the expert, CA John Abraham Austin.
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