Hi
I am software professional doing freelancing in India. My auditor has told me to pay approximately 5Lac as advance tax before March 15th
But I am having difficulties in paying that amount, before March 15th. I can pay it in next 3 months
If I pay the remaining taxes in 3 month, what will be total amount I need to pay- How do I calculate this amount?
I am in a hurry to get this amount calculated, can anyone help me?
Regards
Ganesh
| Originally posted by : Vibhor | ||
 |
Amount of 28500 is calculated on the basis that your actual tax liability in Previous Year 2013-2014 is 500000 itself.. Tax amount will increase/decrease accrodingly. |  |
Thanks a lot Vibhor. As per my 26AS, already 6Lac has been deducted as TDS, this is over and above the already deducted amount, so my tax liability for 2013-14 is 11Lac
Considering this, what will be the penalty, say if pay the dues by June 2014?
Also, paying penalty- will it have any other impact?
Regards
Ganesh
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