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ADVANCE TAX PAYMENT IN FY

Tax queries 230 views 4 replies
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My mother is a senior citizen and files ITR. Her main income sources are from bank interest and pension.

Q1--Even though senior citizens are exempt from advance tax but still she can pay advance tax voluntarily??

Q2--  can she pay full advance tax in March in one time or rather pay in 4 instalments???

 

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On 01 August 2021 at 15:30 Report
Replies (4)
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1236 Points Posted on 01 August 2021
1.yes 2.pay b4 filing returns or in Mar
1 Reply
On 01 August 2021 at 15:50
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2742 Points Posted on 01 August 2021
For 1st yes she can pay.
for 2nd as your choice as advance tax liability does not arise on her. So there is no interest is chargeable u/s 234C.
9 Reply
On 01 August 2021 at 16:51
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Chartered Accountant
24588 Points Posted on 01 August 2021
Yes she can pay advance tax.

You can pay in one time also
129 Reply
On 01 August 2021 at 16:55
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2478 Points Posted on 02 August 2021
When advance tax is not applicable, then, why to pay??
4 Reply
On 02 August 2021 at 19:48


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