Advance tax
This query is : Resolved
14 March 2013
If Partnership firm , Pvt Ltd Company , Ind, Huf if Advance Tax due date is 15.03.2013 ( Taxable Income ) but we not pay the advance tax Penalty is applicable OR Not & to be paid 15.04.2013, Interest is redused or Not
Dintakurthi Tirumala
(Expert)
14 March 2013
No penalty will levy for non payment of advance tax. But interest u/s 234B & 234C will applicable and attracts. I.e interest on such sections will charge.
Yes, if you paid tax on 15-4-2013 the interest liability u/s 234B will decrease. If the advance tax payment after 15-3-2013 no change in the interest liability u/s 234C.
OM SAI SRI SAI JAI JAI SAI
Yes, if you paid tax on 15-4-2013 the interest liability u/s 234B will decrease. If the advance tax payment after 15-3-2013 no change in the interest liability u/s 234C.
OM SAI SRI SAI JAI JAI SAI
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