Advance Tax due date for quarter 3 extended to 31.12.2019
As per recent tweet by CBDT, In view of the recent disturbances in the North Eastern region of India, CBDT has decided to extend the date for payment of 3rd installment of Advance Tax for FY 2019-20 from 15th December,2019 to 31st December, 2019 for the North Eastern Region. Notification will follow.
Link of Tweet is given below:
In view of the recent disturbances in the North Eastern region of India,CBDT has decided to extend the date for payment of 3rd instalment of Advance Tax for FY 2019-20 from 15th December,2019 to 31st December,2019 for the North Eastern Region.Notification will follow.#AdvanceTax
— Income Tax India (@IncomeTaxIndia) December 15, 2019
Advance tax is liable to be paid in every case where the advance tax payable is Rs. 10,000 or more. A Resident Senior citizen not having any income from business/profession, is not liable to pay advance tax with effect from A.Y 2013-14 onwards.
For computing the advance tax liability of the prevailing tax rates or the rates in force of the previous year for which the advance tax is to be computed are to be used.
| ADVANCE TAX PAYMENTS | |
| Due date | Advance tax payable |
| 15th June | 15% of Advance tax |
| 15th September | 45% of Advance tax |
| 15th December * | 75% of Advance tax |
| 15th March | 100% of Advance tax |
*CBDT has decided to extend the date for payment of 3rd installment of Advance Tax for FY 2019-20 from 15th December,2019 to 31st December, 2019 for the North Eastern Region.
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Tags : Income Tax, Advance Tax, CBDT, News
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