GK
TAXES IN INDIA
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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5th day of the month immediately following each quarter
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5th day of month immediately following the calendar month
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15th day of month immediately following the calendar month
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25th day of month immediately following the calendar month
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Detailed explanation-1: -If the tax is paid through physical mode, it has to be done on or before the 5th of every month and the 31st of March.
Detailed explanation-2: -Can I pay advance tax after the due date? You must pay advance tax before the financial year ends in 4 instalments: 15th June, 15th September, 15th December and 15th March. If advance tax is not paid according to this schedule, then 1% monthly interest will be levied.
Detailed explanation-3: -Domestic companies must file their returns by October 31, 2023, for the Financial Year (FY) 2022-2023. The due date to file ITR will be November 30, 2023, if the company has any foreign transaction or specified domestic transactions and is required to file a report in Form Number 3CEB under Section 92E.