No, every taxable person shall discharge his tax and other dues in the following order:
(a) self-assessed tax, and other dues related to returns of previous tax periods; b) self-assessed tax, and other dues related to return of current tax period;
(c) any other amount payable under the Act or the rules made thereunder including the demand determined under section 66 or 67.
Note 1:“tax dues” means the tax payable under this Act and does not include interest, fee and penalty.
Note 2:“other dues” means interest, penalty, fee or any other amount payable under the Act or the rules made there under.
(ICAI FAQ PUBLICATIONS 06-09-2017 TAX PAYMENT, INTEREST, PENALTY AND OTHER AMOUNTS: FAQ NO. 23)