Advance payment of taxes
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 March 2012
Certain issues are disputed with Income Tax authorities, which is common wth every year return. Therefore is it wise to pay advance tax at higher rate - assuming issues in favour of IT department? Also if such issues are decided in our favour at ITAT , then in this case should one pay tax according at higher side or at lower (i.e as per income claimed to be assessed in the return)??
CA PARAS BAFNA
(Expert)
11 March 2012
The payment of advance Tax installment may accordingly be adjusted by the assessee by TAKING INTO CONSIDERATION the decisions on similar issues.
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