Can the tax for AY 2012-13 be paid now?

POSTED BY Ravi ON July 7, 2013 11:54 am ONE COMMENT

Hi Friends,

I am in 30% tax bracket. I had opened an FD for 19 months that matured in Sep 2012. At the time of maturity I became aware that bank had deducted and paid TDS to govt for AY 2012-13 and 2013-14 also. Since there was no intimation from the bank about the tax deducted, I forgot to pay the additional 20% tax that I had to pay for AY 2012-13.

My question is : Can I do that now without any penalty? Also which challan should i use for this payment. Pls advise. Thanks

One reply on this article “Can the tax for AY 2012-13 be paid now?”

  1. Ashish Garg says:

    Dear Ravi,

    You can always pay the balance tax for AY 2012-13 now using the online income tax paying portal ( shall guide you).

    You need to pay the interest and penalty for not paying the remaining tax on time. Try and search the net and you will find a few calculators to let you how much is the penalty and interest you need to pay.

    Use challan 280, self assessment tax


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