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 Industry & Economy - Taxation


Advance tax due date extended

Our Bureau

New Delhi, March 11

The Finance Ministry has said that taxpayers can deposit their advance tax/banking cash transaction tax (BCTT) payments on or before March 16. An official release said that the mandatory interest for default in payment of advance tax would not be charged if the payments are made on March 16, a day after the due date. The due date for payment of the last instalment of advance tax for corporation tax, income tax and fringe benefit tax for financial year 2005-06 and for payment of BCTT collected during February 2006 falls on March 15, which is a public holiday.

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