Advance Tax
This query is : Resolved
05 April 2011
Hello,
In income tax if a person tax liability is more than Rs.5000/-, He is liable to Advance Tax. My quary is if he does not pay advance tax, what is its liability? Plz also mention under which section?
lawyerpreetkaur@gmail.com
In income tax if a person tax liability is more than Rs.5000/-, He is liable to Advance Tax. My quary is if he does not pay advance tax, what is its liability? Plz also mention under which section?
lawyerpreetkaur@gmail.com
05 April 2011
liable to pay interest u/s 234c
05 April 2011
Its only interest amount???? Is any penalty also levied?
05 April 2011
IN THIS CASE ASSESSEE CAN TREATED AS DEFAULT ASSESSEE ALSO
05 April 2011
so by default assessee he has to pay any monetry amount except interest???
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