Upgrad LLM

time specified on payment advance tax


Dear experts

Is there time limit on payment of Advance tax on last due date? For Example 15th september is the last date of payment of advance tax.

If we deposit advance tax on 15th september at 7:30pm by online. is it consider on 15th or next day?

If we deposit advance tax on 15th september at 9:30pm by online. is it consider on 15th or next day?

Pls advice us according to as per income tax act and income tax Rule

Thanks

 
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Hai, as per RBI NOTICATIONS

27. Cut off time for e-Payment transactions pertaining to Government Revenue

(RBI/2008/275 & DGBA. GAD. No.10577/42.01.038/2007-08 dated April 3, 2008)

Banks authorized for e-payment of CBDT revenue were advised that payment under OLTAS received up to 8.00 p.m. may be treated as received on the same day and those received thereafter be treated as received on next working day.

http://www.rbi.org.in/scriptts/BS_ViewMasCirculardetails.aspx?Id=4348&Mode=0

 
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TAXPOINT (Director) 9829551008

Venkataramanan Sir is absolutelly correct..
 
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