Advance tax payment
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 July 2014
as we Know that advance payment of income tax is 15th June ,15th september,15th December and 15th march ,if any one day advance payment date is holiday then income tax can be paid on next working day as per which notification No.please reply this question.
05 July 2014
When due date falls on a bank holiday - If the last day for payment of any instalments of advance tax is a day on which the receiving bank is closed due to the day being a holiday, the assessee can make the payment on the next immediately following working day, and in such cases, the mandatory interest leviable under sections 234B and 234C would not be charged—Circular : No. 676, dated 14-1-1994.
See below link--
https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2005ITAct/cirsec211.htm
See below link--
https://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2005ITAct/cirsec211.htm
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 July 2014
Many many thanks sanjay sir for immediate reply .
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