Payment of advance tax by salaried person

if you are senior resident 60 years and above  then no need to pay advance tax 

Thanks .but then wont interest be charged in calculation if advance tax instalments not paid? So what is best thing to do?

You can estimate the tax  and pay self assessment tax before filing your return of income if you could estimate your annual income before hand and would like to pay tax  whenever you like the option is yours  there is no interest element  for you as it is a case for advance tax for other assessees since you are a senior resident and do not have any business income 

sorry sir..But as i am finalising 2017-2018AY return ITR2 the  page is automatically claculating interest amount  as i did not pay any self assessment or advance tax before March 2017 Only TDS was duecuted.

It means interest is chargeable form me. Since what date it is reckoned? form 1st April? or form scheule dates given in advnace tax calender.?Kindly clarify

from 1st april @ 1% p.m  under section 234B AND 1%  p.mUNDER 234C on shortfalls in all quarters 

Thanks. I will verify the clauclaitons indicated and give feed nback to you

Dear sir I am unable to work out how it is done:

tax calculated by form ITR 2 automatoically  Rs 94588

Cess 2838

Total tax 97426

TDS dudcted  59648

self assessment tax paid 30000 15th May 2017 

60000   20th may 2017 i.e after march FY was over

interest calculated by program of form ITR2

234(B)  754

234C- 1901

Total- 2655/-

these are separate 1% on each item

I am unbale to calculate it and verify it any w y sugested .If interest is taken frrm 1st April on 35000Rs  it should be only 550 or so for 45 days @ 1%

Can you please check and explain

It is clear that you have given the calculation till May 2017.

Procedure for interest calculation: The calculation of interest is to be done as per Rule 119A and is summarised below :
(i) The period for which such interest is to be calculated is to be rounded off to a whole month or months and any fraction of month is to be ignored.
(ii) The amount of tax in respect of which interest is to be calculated is to be rounded off to nearest multiple of 100 ignoring any fraction of Rs. 100.

U/s 234B, interest is computed @ 1% for every month or any part thereof on the shortfall of advance tax payment. In your case, the tax liability was Rs. 97426/- and TDs was Rs. 59648/-. So Shortfall is Rs. 37,778/-. Interest u/s 234B till May 2017 will be Rs. 37,700/- x 2% or Rs. 754/-. Please note that interest u/s 234B will be computed till the date of assessment. So it will be updated in the Intimation u/s 143(1) when CPC will process your case.

In the next post I am giving Computation of interest u/s 234C which is little bit lengthy.

Please reefer the following schedule of advacne tax payment applicable for FY 2016-17 or AY 2017-18

For Financial year 2016-17, the advance tax rates and due dates are made similar for both corporate and non corporate asessee, are given as follows.

Thanks to all experts for help