Payment of I.T. by individual tax assessee, Sr. Citizen, 70 years
V R PREMCHANDRAN (Others) (76 Points)
17 March 2022When should I pay tax, either at the time of filing tax return or before 31st March.
Please guide me
V R PREMCHANDRAN (Others) (76 Points)
17 March 2022
Eswar Reddy S
(CFO- at NHTF)
(58207 Points)
Replied 17 March 2022
V R PREMCHANDRAN
(Others)
(76 Points)
Replied 17 March 2022
Eswar Reddy S
(CFO- at NHTF)
(58207 Points)
Replied 17 March 2022
JJJ
(Need help)
(673 Points)
Replied 17 March 2022
If you don't have professional income, you don't need to pay any sort of tax until the time you file your return.
No interest / penalty either if done by end June.
Eswar Reddy S
(CFO- at NHTF)
(58207 Points)
Replied 17 March 2022
CA Puja Sharma
(Chartered Accountant)
(4874 Points)
Replied 19 March 2022
If you are not having nay business income then you can pay the entire tax liability at the time of filing the Income-tax Return because there won't be an interest applicable upon you u/s 234B/C because you are a senior citizen above 60 years of age.
JJJ
(Need help)
(673 Points)
Replied 19 March 2022
Originally posted by : Eswar Reddy S | ||
If tax liability is above 10000/- one must pay advance tax . |
Not if you're over 60 and don't have business income!
Eswar Reddy S
(CFO- at NHTF)
(58207 Points)
Replied 19 March 2022
JJJ
(Need help)
(673 Points)
Replied 19 March 2022
Whatever name one wants to call it, the end result is the same. The timing of the payment matters, not the name.
And regards timing, seniors don't need to pay sitharaman a single paisa before the standard tax return due date, so long as they don't earn business / professional income.
V R PREMCHANDRAN
(Others)
(76 Points)
Replied 19 March 2022
Samantha J
(1236 Points)
Replied 19 March 2022