SELF ASSESSMENT TAX PAYMENT CLARIFICATION

I am a senior citizen and all senior citizens ,i ,understand are exempt from payment of  quarterly advance tax  on the 

income earned during the quarter and  are permitted to pay self assessment tax at the time of filing ITR.

Please advise for FY 19-20 , whether he same is valid  and if so i can pay self assessment tax  for Fy 19-2-at the time of filing  ITR for AY 2020-21.  I .E  31 st OCT 2020, due date for filing

I have no business income and income is from deposits  and house rental income.

 

Replies (4)
Quick Summary
This discussion clarifies self-assessment tax payment for senior citizens. It confirms that senior citizens are generally permitted to pay self-assessment tax when filing their Income Tax Return (ITR), rather than making quarterly advance tax payments. The advice given is to file within the original due date to avoid interest charges, even though the filing deadline may be extended.

Yes that's valid. you can pay self assessment tax at the time of filing ITR. However, please filing within the original due date of 31.07.2020 as interest u/s 234A shall be applied in case of filing after that. Extended due date is 30.11.2020 for FY 2019-20

sir,

When date is extended till 30-11-2020, it does not appear to be fair for making payment of self assessment tax  by 31-07-2020..

Extension to file ITR means, extension of self assessment tax  payment also covered.  Is there any clarification on this  as it has

financial implication for the assesses..I have to break a deposit if i have to pay by 31-07-2020.

 

 

 filing within the original due date of 31.07.2020 as interest u/s 234A shall be applied in case of filing after that. Extended due date is 30.11.2020 for FY 2019-20

 

Https://www.financialexpress.com/money/income-tax/itr-filing-date-extended-will-you-end-up-paying-more-as-penal-interest-explained-with-calculation/1973402/

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