INSTALLMENTS OF ADVANCE TAX AND DUE DATES Section 211 Payment of Taxes and Interest Income Tax.

So those who have not paid the first installment (i.e. September 15) of Advance Tax (if applicable to you), then you can pay it together with second installment (on of before 15th Dec), but with interest on the first instalment for deferment of the same by three month and if you are not paying it even on Dec 15th , then you can pay it by the end of the year along with the interest.

This needs to be calculated after considering the credit No extension of due date for payment of Advance Tax | Due date for 1st installment 15th June - Taxontips When: June 15, 2018 all-day Payment of advance tax for the upcoming Assessment Year by the Salaried, freelancers and businesses– If total tax liability is Rs 10,000 or more in a financial year shall pay the tax in ITNS 282 … Read More "Advance tax 1st Installment" Pay first instalment of advance tax now Premium Not all assessees need to comply with advance income tax rules. (iStock) 2 min read. Updated: 12 Jun 2019, 02:09 PM IST Ashwini Kumar Sharma First installment : Interest is payable if advance tax paid till 15 th June of PY is less than 12% of the advance tax liability: Rate : 1% per month Time period : 3 months Amount : 15% of Advance Tax liability minus advance tax actually paid till 15 th June The best strategy for paying advance tax should be to pay a little extra for first 2 installments and then paying amount close to the total tax liability during the third installment. One should also try not to pay extra amount so as to avoid any hassles of refund as is it best to pay nominal interest amount later on.

First installment of advance tax

It is paid in accordance with provision of Income Tax Act 1961. The tax burden of tax payer get reduced by paying installment of advance tax periodically in a year instead of paying total tax at the end of the year. The deadline to pay first installment of advance income tax is just 2 days away i.e. June 15.

However, from F.Y 2016-2017 the first installment of advance tax will have to be paid on or before 15th June and later the remaining in aforesaid 3 installments.

2019-06-12

Advance Tax Payment, as the name suggests, is the payment of taxes in advance. Any individual or business who has an estimated tax liability of INR 10,000 or more is liable to make advance tax payment. So, this payment of tax installment in advance is called advance tax payment.

1) The next date of compliance, of some significance, under the Income Tax Act, 1961 (‘the Act’), falls on 15thJune, 2020 by which assessee will have to discharge the obligation of payment of first instalment of advance tax for the financial year 2020-21.

2018-12-14 2018-06-15 2019-06-12 The first installment of advance tax for the financial year 2012-13 is due this month.

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2020-06-15 · First Installment of Advance Tax is 15 th June or 30 th June? New financial year 2020-21 has started with a lock down across the country & the present situation is full of uncertainty & contingency. Amidst all this, there is a liability to ensure tax compliance by way of payment of advance tax. The first installment of advance tax is due by June 15, 2020, and if it is paid by June 30, 2020, the interest on delayed payment of such taxes will be levied at 0.75 per cent a month, instead of 1 per cent a month.

The first instalment of advance tax is due by June 15, 2020, and if it is paid by June 30, 2020, the interest on delayed payment of such taxes will be levied at 0.75 per cent a month, instead of 1 2021-03-05 · Payment of Advance Tax First Instalment- by 15th June every year you have to pay 15% of tax liability. Second Instalment- by 15th September you have to pay 45% of tax liability. Third Instalment- by 15th December you have to pay 75% of tax liability. 2020-06-15 · First Installment of Advance Tax is 15 th June or 30 th June?
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Mar 7, 2019 Advance Tax is a part payment of tax liability during the F.Y whereas dues to be paid then it is to be paid first before filing Income Tax Return.

June 15. So, make sure you are done with the payment towards the same. First installment of the advance tax is due on 15 th June.