Advance i .t.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2012
Dear Experts Thanks
My Q .is as follow
Total Income from business up to 31/03/2013
after deducting direct expence 67 L
Income from salary & other 3.65 K
TDS deducted 9.60
I pay in Sept.2012 Advance Tax 48 K
How much Advance tax i should pay before march 2013
kindly advice waiting your valuable reply
My Q .is as follow
Total Income from business up to 31/03/2013
after deducting direct expence 67 L
Income from salary & other 3.65 K
TDS deducted 9.60
I pay in Sept.2012 Advance Tax 48 K
How much Advance tax i should pay before march 2013
kindly advice waiting your valuable reply
14 December 2012
your income tax liability coming out to be 989500 after deducting TDS and on 15th december 60% shall be due i.e 989500*60% = 593700 from which u had alreadyb paid 48000 now u have to paid 545700, Slab rate has been taken for individual and salary taken 365000 and business taken propritorship not company.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
14 December 2012
Thanks Aadish
Liability you shown is perfect.& indiviual & propritorship is also ok.
Kindly suggest how i can minimise Tax for that what steps i should take in future or upto March-2013. Naturally i don't want to pay that much tax.
Thanks
Liability you shown is perfect.& indiviual & propritorship is also ok.
Kindly suggest how i can minimise Tax for that what steps i should take in future or upto March-2013. Naturally i don't want to pay that much tax.
Thanks
15 December 2012
DEDUCTIONS
Deduction in respect of life insurance premia, provident fund, etc. but not more than Rs.1lac
Any sums paid towards:
Insurance premium
Contribution to Provident Fund
National Saving Certificates
Tuition Fees of self, spouse or child (not more than 2)
Installment of housing loan
u can consider above all, under sec 80c u can take deduction upto 1 lac, n further u/s 17(2) medical bill exemption upto15,000 and deduction u/s 80d medical policy upto 15000, if u had paid any donation to recognised institution in cash also but upto 10000, u can take deduction of 5000. means u should see deduction chapter of income tax i.e VIA and u can invest as per Rajiv gandhi equity scheme upto 50000 and take deduction of 25,000, (as per conditions of scheme)
Deduction in respect of life insurance premia, provident fund, etc. but not more than Rs.1lac
Any sums paid towards:
Insurance premium
Contribution to Provident Fund
National Saving Certificates
Tuition Fees of self, spouse or child (not more than 2)
Installment of housing loan
u can consider above all, under sec 80c u can take deduction upto 1 lac, n further u/s 17(2) medical bill exemption upto15,000 and deduction u/s 80d medical policy upto 15000, if u had paid any donation to recognised institution in cash also but upto 10000, u can take deduction of 5000. means u should see deduction chapter of income tax i.e VIA and u can invest as per Rajiv gandhi equity scheme upto 50000 and take deduction of 25,000, (as per conditions of scheme)
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