Advance tax
Shashidhara Aithal (6 Points)
10 February 2016Shashidhara Aithal (6 Points)
10 February 2016
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 10 February 2016
Hello, Agree with Prateek
In case due to some reason you are unable to pay Advance Tax note that Interest under Section 234B and Section 234C may become applicable.
Shashidhara Aithal
(6 Points)
Replied 11 February 2016
What if we have more than 10000 income in a fy.? what is the last date to pay advance tax?
Please guide
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 13 February 2016
If in a financial year your total tax liability exceeds Rs 10,000 you will be required to pay Advance Tax. Do remember to include all heads of income calculating Advance Tax.
Tax liability consider for whether you are liable to pay advance tax or not.
Taxable income doesn’t consider.
Rahul Verma
(CA-Final)
(484 Points)
Replied 13 February 2016
AS pet the Provisions of Income Tax if in a financial year your total tax liability exceeds Rs 10,000 you will be required to pay Advance Tax.
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