Due Dates for Advance tax payment and Interest Penalty

By | 2018-08-08T09:18:15+00:00 June 25th, 2016|Categories: Tax payments and Refund|Tags: , , |

Dates for Advance Tax   Advance tax is a way of collection of tax by the government. If total income of an asessee exceeds Rs 10,000 in a financial year, tax is payable in installments of your yearly tax payable. It should be paid in the year in which the income is earned. In other words, [...]

Interest on Late Deposit of Advance Tax (Post FY)

By | 2018-08-08T08:41:27+00:00 June 10th, 2016|Categories: Tax payments and Refund|Tags: , |

Interest on Late Deposit What does Advance Tax payment mean? It means payment of the tax dues on the stipulated time provided by the Income Tax Department. What happens if a person fails to pay the Advance Tax? If a person fails to pay this tax or if he/she pays the amount less than 90% of [...]