About 3 Yrs IT Return ?

This query is : Resolved

Murtaza I Bhagat (Querist)
Follow

03 October 2009 Dear Sirs,

I want to Know Who is Responsible for Advance Tax ?
And also Show me the Rules of it Regarding Propritership,Firm & Company ?

Its Apply when your Income is Taxable or when you are liable for Audit ?

pls Clearify my Understand of Advance Tax

Thanks in Advance

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
Follow

05 October 2009 Hi Murtaza,

Tax payee is responsible to to pay Advance Tax except in case of Salaried employees the TAX on salry to be deducted and to be paid by employer.

So in case of Propritorship,Partneship and Companies the respective assess is responsible for paying Advance Tax within the due dates in a financial year when tax payable for that year is Rs. 10000 or more.

i.e. if in a year tax payable is below 10000 u need to bother about advance tax.

If not paid or less paid then interest is payable under section 234B and 234 C, in short.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

SUMAN SAHA

CA Rahul Patwardhan

T E SOUNDARARAJAN

Hanuma Yanduri

CA Bijo scaria

Subscribe Now

About 3 Yrs IT Return ?

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANCY

Accountant

Manager- Finance and Compliance

GST CONSULTANT

Article Assistant