For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Deadline On Advance Tax Payment Extended For North Eastern States Amid Unrest In The Region

By Staff
|

The Income Tax Department has extended the deadline on advance tax payment to 31 December for the north-eastern states of India amid unrest in the region over the amended Citizenship Act. The third installment of advance tax payment was due on 15 December.

Deadline On Advance Tax Payment Extended For North Eastern States Amid Unrest

"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 (financial year) 2019-20 from 15th December, 2019 to 31st December, 2019 for the North Eastern Region," informed the Central Board of Direct Taxes (CBDT) through its Twitter handle.

 

Also known as pay-as-you-earn, advance income tax payment allows taxpayers to pay income tax due in installments rather than lump sum at the end of the year. Those with total tax liability of Rs 10,000 or higher in a financial year are required to pay advance tax. Senior citizens who are above the age of 60 years and do not run a business are exempt from paying advance tax.

For those earning salaried income, their respective employer will take care of necessary deductions to be made from salary as per income tax rules.

Read more about: advance tax income tax
Story first published: Monday, December 16, 2019, 13:14 [IST]
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more