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interest on tax
wether interest payable on tax on house property income and bank interest income
Replies (3)
Interest charged by the IT Department is on Whole tax amount
when we have to pay advance tax for interest on saving account and on rental income ..whiling filing ITR or else pl clarify
Advance tax is not paid at the time of return filing. ( If you expect your tax liabilty is more than 10,000 rupees for a year you are liable to pay advance tax)
Advance tax calculated on your anticipated income for the previous year in advance and break the tax figures as per the following ways.
Refer this link to https://taxindiaupdates.in/advance-tax-liability-for-the-a-y-2016-17/
| On or before 15th Jun | Not less than 15% of advance tax. |
| On or before 15th Sep | Not less than 45% of advance tax as reduced by the amount paid in the earlier installment. |
| On or before 15Th Dec | Not less than 75% of advance tax as reduced by the amount paid in the earlier installments. |
| On or before 15Th Mar | The whole amount (100%) of advance tax as reduced by the amount paid in the earlier installments. |
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