Instalment of advance tax on 20th March instead of 15th march

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2 Points Posted on 21 March 2022

Our company has paid the last instalment of advance tax on 20th March instead of 15th march , what would be the impact on the interest penalty ?

 

Please confirm 

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On 21 March 2022 at 13:45 Report
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Quick Summary
Our company missed the 15th March deadline for the final advance tax instalment, paying it on 20th March instead. We need to understand the financial impact of this delay. Specifically, we're concerned about the interest penalty under Section 234C of the Income Tax Act and how it will be calculated for the five-day delay.

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243 Points Posted on 21 March 2022
1 month interest
1 Reply
On 21 March 2022 at 14:20
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Article assistant
46 Points Posted on 22 March 2022
1month interest will come from 15th to 20th march
and company is liable to pay the 234c interest
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On 22 March 2022 at 03:25

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