Advance tax

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Mitesh (Querist)
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15 June 2017 Good Morning everyone

I have one doubt regarding Advance Tax for the AY : 2016-17

One of the Individual has business income and also liable for Tax Audit under Income Tax Act, 1961

The assessee has paid March Advance Tax Installment on 19th March, 2016

The assessment u/s - 143(1) has been done CPC and they had not consider the March Month Advance Tax as Advance Tax and raised the Income Tax liability and also raised Interest u/s - 234B & u/s - 234C

So Can i take credit of Advance Tax that the assessee has paid after 15th march or not??

Is their any other option or manner to resolve the problem??

Please give solution at earliest

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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15 June 2017 Amount paid on 19th March has to be considered as advance tax.Please see proviso to section 211(1). Please check whether challan has been filled correctly. If it is correct, seek rectification of 143(1) intimation.

Mitesh

Mitesh (Querist)
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15 June 2017 Thank you very much Sir

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