Hello ,
I forgot to pay advance tax for the apr-june 2020 quarter (June 15 installment.)
if I pay the same on monday i.e, 27.06.2020 what will be the interest/late fee to be paid. and when to be paid ?
pls clarify thank you.
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Interest on advance tax
Replies (3)
No need to worry, please pay the amount immediately, no late fee but interest will be levied i.e 1% per month
How to calculate interest in my case pls explain if I pay on 29.06.20 (sorry for the wrong date above)
Sir interest cannot be determined at this time, at the end of the fin.year based on calculated tax of your total income, you can calculte the interest amount for this quarter. Suppose if you are paying 15000 in this quarter pay 3% extra i.e nearly 500
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