- It will be paid under self assessment tax. Yes it will save some interest.
Did not pay advance tax
I did not pay advance tax for fy 2020-21. Should have paid. I am a stock market trader & also have mf capital gain & dividends & savings acc interest. If I pay whatever I think is due for fy 2020-21 now itself, will it be paid as advance tax? If not then under what category to pay it? I am hoping some amount of fine will reduce as a result when I file my return in June.
Asked 5 years ago in Income Tax
Hi
You can pay now to reduce interest.
It has to be paid as self assessment tax now.
Hello,
It will be paid as Self Assessment Tax now. Paying now would reduce the interest liability.
Regards,
CA Hunny Badlani
Hi
Yes it will reduce your interest liability it will be called self assessment tax.
Dear Sir,
Hope you are doing well !!
It will be paid as self assessment tax using the challan 280.
Yes, paying now will reduce the interest liability.
We may assist you in entire procedure.
You may pay it as Self Assessment Tax.
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