Payment of advance tax in instalments by the due dates under sections 210 and 211 of the Income-tax Act--Last day being holiday--Clarification regarding
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Advance tax instalment deadline: payment on next working day avoids interest under Income-tax Act provisions when bank closed If an advance tax instalment due date falls on a day the authorised receiving bank is closed, Section 10 of the General Clauses Act, 1897 deems payment made on the next immediately following working day as timely, and mandatory interest under sections 234B and 234C of the Income-tax Act, 1961 shall not be charged; Assessing Officers are to be notified for uniform application.
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Advance tax instalment deadline: payment on next working day avoids interest under Income-tax Act provisions when bank closed
If an advance tax instalment due date falls on a day the authorised receiving bank is closed, Section 10 of the General Clauses Act, 1897 deems payment made on the next immediately following working day as timely, and mandatory interest under sections 234B and 234C of the Income-tax Act, 1961 shall not be charged; Assessing Officers are to be notified for uniform application.
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