Kindly pay your Advance Tax by 15th March 2018

Kindly pay your Advance Tax by 15th March 2018

• Advance Tax can be deposited through cash, cheque and electronic mode (Debit Card/Credit Card). The challan specified for advance tax is Challan No./ITNS 280. All designated branches of banks which are empanelled with the Income Tax Department accept advance tax payment. Assessee can pay Advance Tax Online through Challan No./ITNS 280 from TIN-NSDL website or can fill up this form ofChallan No./ITNS 280.

 

• For avoiding payment of interest under section 234B & 234C, Kindly pay your Advance Tax by 15th March 2018 (FY 17-18).

• Following are the sections of the Income Tax Act, 1961 which deal with the provisions of advance tax:

Section 208: Conditions of liability to pay advance tax. Section 209: Computation of advance tax Section 210: Payment of advance tax by the assessee of his own accord or in pursuance of order of Assessing Officer Section 211: Due dates

• The assessee can verify status of his Advance Tax deposited through following links:
  1. Form No.26 AS: The credit of tax deposited(TDS) would be reflected in Form 26AS within one week of making the payment.
  2. NSDL e-Governance:Challan Status Inquiry can be made through OLTAS Application (NSDL) by visitinghttps://tin.tin.nsdl.com/oltas/index.html.

 

• For more knowledge on this topic kindly referWhat is Advance Tax: Advance Tax Liability for the F.Y 2017-18 | A.Y. 2018-19

 

• Disclaimer:This information is updated till 10th March, 2018 & is subject to change with change in future law.

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