I have a problem with regard to IT payment for myself as a salaried individual for assessment year 2021-22. I had delayed my payment, but was able to pay it within the designated time. I was further asked to pay an amount of around Rs 4,341 by 31st March. However I had some issues with the transaction password on my online bank account, and thus missed the deadline. The amount is still unpaid. What should I do?
Ans: I understand that you have filed your Income Tax return and demand is intimated to you via Intimation u/s 143(1) of Income Tax Act.
In case income tax demand is not paid within 30 days of its generation, interest of 1% p.m. will be levied u/s 220 of Income Tax Act. So pay tax online through e-filing website or directly from the bank website.