Avoid Penalties! Missing today’s deadline for advance tax payment for the financial year 2024-25 could lead to penalties.

Under section 208 it is obligatory to pay advance tax during the financial year in every case where the advance tax payable is Rs. 10,000 or more. Thus if the advance tax payable is less than Rs.

Income tax rules require taxpayers to submit advance tax if their overall tax liability for the financial year exceeds Rs ...

Act, 1961, individuals whose estimated tax liability exceeds Rs 10,000 during the year are required to pay advance tax.

If you fail to adhere to the rules and due dates, you may have to pay a penalty. You will have to pay simple interest of 1 percent per month on the under-payment or non-payment of advance tax by ...

Those who fail to file on time will receive a letter notifying them of an impending “failure to file” penalty. The penalty is ...

Missing advance tax deadlines can lead to unnecessary interest charges. A simple declaration to your employer can help ...

With just days left until the March 15 deadline, the Income Tax Department has reminded taxpayers to settle their final ...

Advance-tax defaults attract two separate penalties in the form of interest under sections 234B and 234C of the Income Tax Act (sections 424 and 425 in the new Income Tax Bill). First, 1% monthly ...

Failure to pay advance tax may entail interest implications u/s 234B and 234C of the IT Act," Dr Surana added. Penalty and interest if you fail to pay Taxpayers failing to pay their advance taxes ...

Jaipur: The state transport department, Tuesday, issued a reminder for all BH series car owners registered under Regional Transport Office Jaipur (I),.