Hi
Can we pay advance tax now as got details on Bank Interest now. I know the last date was March 15th.
Is there any difference on late fee or penalty amount if we pay now or pay during tax filing time.
Please clarify.
Thanks
Kumar
Advance Tax
Replies (11)
Quick Summary
Now you cannot pay the advance tax for the FY 20-21. But you Can Deposit as self assessment tax.
No you cannot deposit advance tax now
Deposit the tax now, this will sav your interest on late payment by a few months.
Yes, if you pay today, the interest applicable on advance taxes, from today till date of filing return can be saved
You are welcome as you are paying earlier. Definitely you save on interest
Thank you all for your kind reply.
What will happen if I paid with Advance Tax code (100) rather than Self assessment Tax (300) now. Is there any difference or just they will consider both as Income Tax.
Advance tax code 100 will now be applicable for FY 2021-22
I have paid 30th March with the code 100 for FY 20-21 and AY 21-22. What will happen this payment.
| Originally posted by : Palani Kumar | ||
 |
Thank you all for your kind reply. What will happen if I paid with Advance Tax code (100) rather than Self assessment Tax (300) now. Is there any difference or just they will consider both as Income Tax. |
 |
It's okay. Not to worry
That will be considered as advance tax only
Payment before 31 st March is treated as advance tax only. it is ok.
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