POSTED BY March 29, 2014 2:38 pm COMMENTS (5)
ONHi ,
My father retired person from state govt service and he is getting pension and had FD in bank deposits.Is it necessary for him to pay advance tax before 31-03-2014 or he can pay tax it during the tax file return in July 2014 with the self assessment tax. If it is mandatory to pay before 31st march and he fails to pay it on time what will be penalty charges to pay later?
Hope to get the perfect answer.Thanks in advance.
Thanks,
Rahul
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Dear Rahul, the calculation is already there in the ITR form which your father w’d fill online.
Thanks
Ashal
Dear Rahul, to avoid penal interest, ask your father to pay tax now, before 31st March 2014.
Thanks
Ashal
Hi Ashal, Thanks for your reply.Can you please let me know how much penal interest he has to pay…how it is calculated?
Thanks,
Rahul
Dear Rahul, what’s the tax amount involved here?
Thanks
Ashal
Tax amount is around rs 10000-11000
Thanks,
Rahul