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.
Menu
Missed paying advance tax
Replies (5)
Quick Summary
You can pay the said amount tentatively before month end. The would be no penalty; but some interest u/s. 234.
Thanks. I will have to pay this as self-assessment tax?
Yes as self assessment tax.
Thank you so much! Will do this immediately.
Good Luck...
Recent Topics :
- Updating form 10-ee and Schedule FA if there is ch
- Sale of property in SLUM area ....SRA
- GST applicability on Shipping charges
- Outstanding Demand in Income Tax: How To Respond?
- LTCG on property sale
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
Related Topics :
CAclubindia
