Today is March 15, the last date for filing advance tax instalments for the financial year 2020-21. After this payment, you will have to pay the installment with one percent interest every month.
The last date for filing advance tax instalments for financial year 2020-21 (financial year 2020-21) is today i.e. March 15. After this payment, you will have to pay the installment with one percent interest every month. Let us tell that from April 1, 2020, tax on the earnings of a person’s dividend has also been taxed. This tax will be levied on the basis of your income tax slab.
Let me tell you that if the income from your dividend in a financial year is more than Rs 5000, then TDS will be levied on you. March 15 is the last date to pay advance tax for such people, which you may lose if you forget.According to Neha Malhotra, director of Nangia Andersen LLP, the “advance tax” applies to all taxpayers, salaried, freelancers and businesses. However, a resident senior citizen (a person 60 years of age or older) is not making income from business. The profession is not liable to pay advance tax. ”
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When do you have to pay tax?
Senior citizens, who do not have a business income, have to pay advance tax to those who pay more than Rs 10,000 per year. According to the Income Tax Act, they have to pay rupees in four installments in a year. Four installments of advance tax have to be paid by 15 July, 15 September, 15 December and 15 March. Those who do not pay advance tax may have to pay a penalty.
Penalty in case of non-payment of penalty advance tax. In this way, the fourth installment of advance tax is to be submitted by March 15 for the assessment year 2021-22.
advance tax both offline and online. . To make this offline payment, one can use the tax payment challan (challan number 280) at the bank branches authorized by the Income Tax Department. At the same time, to make online payment, log on to the Income Tax Department website www.incometaxindia.gov.in and click on e-pay taxes. You will then be directed to the National Securities Depository Limited (NSDL) website. Click on invoice number 280, fill in the required details and make the payment.
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