Advance Tax

If assessee is not paid advance tax as per provision then there is only interest penalty U/S 234(C) & (B).Payment of TAX as per provision of advance tax is complusury.

NITESH

9811933817

There is no penalty for payment of Advance-Tax. Only Interest u/s.234B and 234C is payable. However, there is a penalty u/s.140A (3) for failure to pay Tax and/or interest in accordance with the provisions of Sec.140A (1). Maximum penalty u/s.140A (3) is Tax in arrears and Minimum is as levied by AO.

Thanks,

CA. Ashok Shah

No Penalty, only interest u/s 234B & 234C.

100% tax