Considering the large-scale devastation in the State of Jammu and Kashmir due to the natural calamity, the Central Board of Direct Taxes (CBDT) has extended the date for payment of second instalment of advance tax for companies and first instalment of advance tax for others for FY 2014-15 (AY 2015-16) from 15^th September, 2014 to 15th December, 2014 in case of all the tax payers in the State of Jammu and Kashmir. These taxpayers can now pay their September 2014 instalment of advance tax by 15^th December, 2014 without entailing any consequential interest for deferment.

Advance tax payment deadline extended for Jammu & Kashmir taxpayers to avoid interest following natural calamity. An administrative extension permits taxpayers in Jammu & Kashmir to pay the September instalment of advance tax by the later date without incurring interest, covering companies (second instalment) and others (first instalment) for the relevant financial year.