27 January 2021
Hi, maybe this query is too basic but I am not sure how things work. Apologies in advance!
Basically my services business (proprietorship) has turnover of around 1 crore, and I pay Advance Tax. So want to know the money I pay Advance Tax from, is that also taxable? or any money that is contributed to tax is not calculated that way?
27 January 2021
Thanks Sir for reply. So basically if I make total profit of 1 crore in current financial year (2020-2021) then from that 1 crore I have to pay advance tax as below right?
11 March 2021
sir I have my services business (proprietorship) in that if I pay advance tax till 31st march and not 15th march, I have to pay interest?
12 March 2021
Can advance tax be paid after 31st March? In case you are unable to pay advance tax on time, or there are any shortfalls in the advance tax paid by you, you can still pay advance tax latest by the 31st March of the same financial year. ... So, in case you pay your advance tax on 16th of September, you will still be charged with an interest of 1 percent per month.
CAclubindia
