Dear experts , CA Club
Can someone please advise when and how to pay advance tax ( by any salaried person ) for FD interest income to avoid interest u/s 234 A,B,C , when 10% TDS is already deducted by banks during maturity of FDs ?
Dear experts , CA Club
Can someone please advise when and how to pay advance tax ( by any salaried person ) for FD interest income to avoid interest u/s 234 A,B,C , when 10% TDS is already deducted by banks during maturity of FDs ?
I'm salaried class and irrespective of how much I earn from FD , the taxable income is falling into various tax slabs . Possible for you to analyse and suggest now please ?
What all details you might need here pl ?
Roughly speaking, pay the same amount as TDS deducted if you are under 20% slab. Otherwise double if under 30% slab.
Thanks sir , one part of my question ( how much tax ) is clarified.
Can you please share when to pay the same and do we have any provision to pay in online within govt IT portal or thru any other means ?
Regards
Payment of Advance Tax::
First calculate your total tax liability, eduction of all the after deducting the TDS...
Advance tax can be paid online as well as offline.
To Pay online-
You have to visit the designated bank branch and fill out the challan form and then pay the taxes
What a clarified response, thanks for this sir . Much appreciated 👍
Sir , can I pay 100% by March then ? Instead of paying instalments in June , September, December and March ?
Couldn't have asked for more clarity . Many thanks 👍
You can pay 100% advance in June itself rather than March, if you do not wish to pay in 4 installments and avoid interest also...
Good Luck...
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Gupta Sachdeva & Co. Chartered Accountants
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