Advance tax on salaried person

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Brajesh gautam
student

[ Scorecard : 204]

Posted On 05 December 2011 at 22:30

CAN ANY ONE TELL THAT IS ANY ADVANCE TAX PAID FOR SALARIED PERSON.

Prakash
CA Final

[ Scorecard : 517]

Posted On 05 December 2011 at 23:01

Not required in many casses

As Employer Has to Deduct TDS and Remit the same to Govt, Otherwise this Expenditure will be disallowed to Employer

And if at all Employer not deducting TDS, though he aware of Provisions, Employee may Voluntarily pay advance tax otherwise at the end he may require to pay interest on Tax Due

If at all Employee has any other Income other than his salary and which he was not informed to his employer, He should be liable to Pay Advance Tax

Deepesh Ruhela
Article Assistant CA-Final

[ Scorecard : 1375]

Posted On 05 December 2011 at 23:05

Dear Brajesh ji,

No advance tax is payable if the total tax liability after reducing the tax deducted at source is less than Rs. 10,000/-.

Advance Tax Installments & Due Dates

Due Date	Amount of Tax
15th September	At least 30% of Tax on total income for the year.
15th December	At least 60% of Tax on total income for the year less advance tax already paid.
15th March	100% of Tax on total income for the year less advance tax already paid.

CA PRAVEEN SINGH
MANAGER ACCOUNTS

[ Scorecard : 2221]

Posted On 06 December 2011 at 12:13

Not required in many casses

As Employer Has to Deduct TDS and Remit the same to Govt, Otherwise this Expenditure will be disallowed to Employer

And if at all Employer not deducting TDS, though he aware of Provisions, Employee may Voluntarily pay advance tax otherwise at the end he may require to pay interest on Tax Due

If at all Employee has any other Income other than his salary and which he was not informed to his employer, He should be liable to Pay Advance Tax

Right prakash..

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