Advance Income Tax before September 15th

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  1. amit0974

    amit0974 New Member

    I forgot to deposit approx 25,000/- towards Advance income Tax before Sep 15th..2014..
    Next milestone for depositing Advance income Tax is Dec 15th
    Now, if I deposit it today i.e. Sep 18th , will I still be charged interest till Dec 15th as I forgot to deposit Advance income Tax before Sep 15th..2014..
    Pls advise
  2. Parul_Gupta

    Parul_Gupta Active Member

    Dear Amit

    You wont be charged interest till December.

    The Interest for Late Payment of Advance Tax is 1% per month. Therefore, if you pay today - you would be required to pay 1% i.e. Rs. 250 as Interest.
  3. amit0974

    amit0974 New Member

    hi Akanksha -Thanks for the quick reply.. Regards Amit
  4. u may deposit upto 30th sep.
    With an interest of this month only.
  5. amit0974

    amit0974 New Member

    I thinks this needs to be rechecked. What feedback I received is that If one forgets to deposit advance tax before 15th Sep..interest is charged till next milestone i.e. Dec 15th.. System in IT dept is automated and it will automatically levy penalty for 3 months..
    need to be re-confirmed..
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