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Advance Payment of INcome tax

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Guest

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Guest (Querist)
02 October 2008 Dear Experts

Section 208 makes it obligatory to pay advance tax in every case where the advance tax payable is Rs. 5000 or More.

Whether Above Rs. 5000/- is to be considered while calculating total advance tax for the year or for induvidual installment.

Rohit
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
02 October 2008 Total advance tax for the year. Pl refer page 288 of V.G.Metha's Income Tax Ready Reckoner(70th year publication)also.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
02 October 2008 It is not individual instalment, but total for the year, after deducting TDS for the year.
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03 October 2008 Thanks
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