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Advance Tax - Income tax penalty

incometaxquery (Software Engineer)     28 September 2020

Software Engineer 
 53 points

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I wish to understand that if I miss to pay advance tax by the date of 15 Sept OR underpaid, then does it give any benefit to pay in Oct OR should it make sense to only pay now in December just before next advance tax date of Dec 15th?

I wish to keep penalty calculatons (234A, B or C whatever it is) to a lower value as much as possible


Raj C Doshi (Practising CA)     28 September 2020

Raj C Doshi
Practising CA 
 290 likes  4116 points

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There's no benefit if paid in October. It makes sense to pay in December only.


Sagar Patel (Tax and Business Consultant)     28 September 2020

Sagar Patel
Tax and Business Consultant 
 996 likes  11146 points

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Yes, it's advisable to pay only in December as there is no benefit if you pay it in October, Interest liability remain same in both the cases...


vinayak landge (B.Com)     28 September 2020

vinayak landge
 11 likes  131 points

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Agreed with raj

Jayendra (student)     28 September 2020

 18 likes  198 points

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If its about Sept installment than Pay now as interest @ 1% p.m. will be charged on that until you make payment. paying in December will cost you 2-3% more

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