Regarding payment of income tax in installments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 December 2011
there is any provision in income tax act regarding payment of income tax in installments when assessment is complete
CA PARAS BAFNA
(Expert)
28 December 2011
Within the stipulated time under the Notice of Demand, if you give an application in writing, he may consider the request and allow you to pay the tax in installments.
.
Interest for delayed payment may be charged in such cases.
.
If you have a demand of Rs 100000/-, you can pay Rs 25000/- also. The amount paid will be credited to you.
For Balance 75000/ interest for delay is charged @ 1% pm or part of the month.
.
Interest for delayed payment may be charged in such cases.
.
If you have a demand of Rs 100000/-, you can pay Rs 25000/- also. The amount paid will be credited to you.
For Balance 75000/ interest for delay is charged @ 1% pm or part of the month.
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