My professional income is only 5 lakhs for the year 2024-2025. However, I sold a property last year and invested all the proceeds in a fixed deposit. The result is that the FD interest turned out to be more than 15 lakhs for 2024-2025. Now, my tax calculation reveals that I have to pay more than 40, 000 in tax plus, of course, there will be some penalty. What to do now? ITR-3 is still not enabled on the site.
5 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195722 Points)
Replied 19 July 2025
You can pay the said amount tentatively before month end. The would be no penalty; but some interest u/s. 234.
Barkha
(None)
(249 Points)
Replied 19 July 2025
Thanks. I will have to pay this as self-assessment tax?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195722 Points)
Replied 19 July 2025
Yes as self assessment tax.
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