basic income tax

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11 November 2011 How to calculate Quarterly Advance tax

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CA PARAS BAFNA (Expert)
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13 November 2011 On the basis of over all tax liability for the Financial Year it has to be decide.

In the case of companies the payment of Advance Tax

On or before15th june >= pay 15% of tax
on or before 15th Sep >=pay upto 45% of the tax
On or before 15th Dec >=pay upto 75% of the tax
On or before 15th March>=pay 100% tax.
.
In case of the Individual 15.09.xxxx 30%,15.12.xxxx....60% and 15.03.xxxx 100%
amount of tax has to be deposited
.
Suppose the Tax liability of Company for FY 2011-12 is Rs. 100000/, it has to pay 15000/, 30000, 30000, and 25000 as installment on the respective dates.

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