Despite reduced interest liability, pay advance tax to minimise charges

The schedule remains unchanged, only the interest charge levied for delayed payment has been reduced

The economy is facing unprecedented disruption and uncertainty due to the Covid-19 pandemic. In response, the government has announced certain relief measures. One such measure is reducing the interest liability on tax payments falling due between March 20 and June 29, but paid by June 30, 2020. However, the government had not extended the due date for payment of the first instalment of advance tax.
 
To provide readers with some context, advance tax is a mechanism by which the government collects income tax in instalments, spread during the financial year in which the income is earned or received. Advance