Late tax payment

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I missed filing ITR for AY 10-11.

Moreover, i worked fro two companies (10 months and 2 Months) for that year. The first company deducted TDS appropriately, while in second company there was no TDS deductions (bec amount total for 2 months salary was well within Free slab). However now i realize that not only i failed to submit ITR, i also have not paid tax for those 2 months salary.

 

The pending tax payable amount is 2500 INR.

My Questions,

  1. What is going to be total amount i should be paying now online, including the interest and penalties.
  2. Can i pay it online through NSDL.com
  3. What challan do i use (CHALAN NO 280?)
  4. What type of tax payment would it be Advance Tax OR self assessment tax?

Plz help

Replies (1)

Hi Amit,

Here's my answer:

1. You have to pay 1% simple interest per month or part of month on the amount of tax payable as reduced by TDS.The period is from August 2010 to September 2011( from the due date of filing return for AY 2010-2011i.e.july 2010  to Current month i.e. September 2011) .Thus the period is 14 months. Therefore the amount of  interest comes to Rs. 350 (2500*14%)


2. You can pay online through https://onlineservices.tin.nsdl.com/etaxnew/PopServlet?rKey=-1888362463 

    Select (0021)INCOME-TAX (OTHER THAN COMPANIES) in Tax payable cell and proceed.

3.Challan 280 is the apt challan.

4.It would be a self assessment Challan not an advance tax challan.

 

If you have not recieved any notice from Income Tax Department, the interest calculated above itself is the Penalty.


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