TaxTMI 
TaxTMI 
advance tax
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....dvance tax<br> Query (Issue) Started By: - hetal dama Dated:- 16-12-2010 Last Reply Date:- 17-12-2010 Income Tax<br>Got 2 Replies<br>Income Tax<br>what is the consequence of default in payment of adva....
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....nce tax ? is any other penalty is charged on default in payment except interest payment ? Reply By CHITRA RAGURAM: The Reply: No penalty is payable. Only interest is payable u/s. 234B and 234C of th....
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....e IT Act. Reply By rishi mohan: The Reply: When the assessee is in default or is deemed to be in default in making payment of tax, including the tax deducted at source, advance tax and the self asse....
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....ssment tax. Failure to pay the advance tax as directed by the Assessing Officer or as estimated by the assessee. The amount of penalty leviable depends upon the nature of default. The relevant sectio....
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....n of Income-tax Act prescribe the minimum and maximum penalties which can be levied.<br> Discussion Forum - Knowledge Sharing ....