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Pls. help-Due date for paying I.T.

Tax queries 535 views 6 replies

My wife has a tax liability of Rs.3470/- for F.Y. 2009-10 (Income from other sources).Since the tax liability is less than Rs.10,000/-,she is not required to pay any Advance-tax. What,then, is the due date for making the payment? Is it 31.3.2010? Or is it to be paid as self-assessment tax prior to filing of Return for F.Y.2009-10? If it can be paid as self-assessment tax in July 2010 (before filing of the Return),then has she to pay any interest for the period April/July 2010?Please clarify quoting the relevant sections,if possible.

Many thanks in advance for an early response.

Replies (6)

Advance tax is to be paid in 3 installments incase of a individual..... if it exceeds Rs.10000/- .

But in ur case it is only 3470/-.tax can be paid before filing of return......No interest arise..........

But file the return before 31.7.....

july 31st isthe due date for filling return along with receipt of challan,no interest is required to be paid from april to july

Dear Balaji,

Thanks for yr prompt response.I'll ensure that the Return is filed before 31.7.2010.But to be doubly sure,are you certain that the tax dues can be paid in July 2010 without any interest liability?Would be grateful if you can provide reference of the relevant sections.

234B, 234C.... interest not applicable sir,

just pay as Self assessment tax...

As G.K. bhai sorry Oridinarily Resident Evil said.........

234 B and 234 C interest does not arise........in ur case........

Incase u file the Return after july say september............... 2 months 1% interest will be charged.........i.e. you have to pay 234 A interest along with the tax and file the return.........

I sincerely  thank each of you for your help and clarifications.So I have time till 31.7.2010 to make the I.T.payment and file the I.T.return.


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