forgot to pay advance tax
This query is : Open
21 April 2011
what will happen if a person forgots to pay advance tax or any of its installment or is unable to do so for any reason like out of india during that period etc.
plz reply soon...
plz reply soon...
21 April 2011
He will have to pay interest u/s. 234C .
22 April 2011
and upto when can he pay the tax if tax payble calculated is more than advance tax paid....
22 April 2011
and upto when can he pay the tax if tax payble calculated is more than advance tax paid...
22 April 2011
He will have to pay balance tax with interest before filing income tax return.
22 April 2011
thnk u sir..bt if the remaining tax is paid before or on 31st march..then also is it required to charge interest as per sec 234.
22 April 2011
one more query sir.if a person receives income on 31st march itself and is not able to pay tax on it till 31st march.will he be liable to pay interest for whole of the next month on that income.
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