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)
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 Topic
- Clarification on Nature of Payment Code for NRI Pr
- Fee received as Independent Director
- Correct way to show income from annuity in ITR
- ITR 3 issues
- What after death of proprietor
- TDS paid under old regime instead of new
- Foreign citizen as directors
- Which category of Employer is applicable to Kendri
- GST on Post-OC Installments – Payment Milest
- Sec-54F exemption and Carry forward losses
Related Topics
CAclubindia
