Did not paid any advance tax till now but now i fall under tax slab

Tax queries 119 views 1 replies

I am freelancer and Since all my clients are outside India i don't need to register under GST, am i right?

I wasn't expecting my income to be more than 5 Lacs so i did not paid any advance tax.

But in last couple of month I made significant income and my total expected annual income is now 6 Lacs.

I did not paid any advance tax for all three previous installments, Now 15 march is last date for advance tax.

Can i still pay my advance tax? What about advance tax installments that I missed?

What is penalty for not paying advance tax on previous 3 installments?

Replies (1)

* if your advance tax liability > rs. 10,000 then you required to pat advance tax 

* pay advance tax 90 % or more so as you interest u/s 234B can be saved 

* interest u/s 234C shall be levied for non payment of installments of advance tax 


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