Advance tax

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brij bhushan gupta (Querist)

19 November 2014 sir/madam my daughter is doctor taking professional fee RS 1 lac per month since june 2014 with debit 10%tds now since sept 2014 she getting additional fee Rs1.2 LACS FROM ANOTHER HOSPITAL with 10% tds .upto nov 2014 tds is Rs 38000/- how much amount she deposit in dec 2014 as a advance tax her investment u/s 80c is Rs 1.5 lacs

Amol S Joglekar

Amol S Joglekar (Expert)

19 November 2014 Calculate her NET income. Since she is a Doctor, her case falls under "income from Profession"
She can claim the expenditure incurred to earn this income e.g. travelling, conveyance, membership fees, journals, magazines etc.
If the TDS is sufficient to cover the net income, No need to pay advance tax.

brij bhushan gupta

brij bhushan gupta (Querist)

19 November 2014 if income earned after sept ,it caculation of tax is from aprill and she should pay advance tax in all three installment 30% 30% 40% otherwise tax dept will took intrest on that deficient of tax how can we calculate tax on income that is not started in sept instllment of advance tax

Amol S Joglekar

Amol S Joglekar (Expert)

19 November 2014 Who told you that? You can estimate the income on FAIR degree and not accurately. Till Sept 2014, TDS is being done at 10%, so what is your problem? Please explain in detail

brij bhushan gupta

brij bhushan gupta (Querist)

19 November 2014 sir how we can avoid intrest u/s 234B and u/s 234C if earning is after sept. for an individual

Amol S Joglekar

Amol S Joglekar (Expert)

19 November 2014 Why are so much worried about 234B and C. Your daughter has been paying advance tax by way of 10% TDS from June 2014.

brij bhushan gupta

brij bhushan gupta (Querist)

19 November 2014 thanks, sir for giving right advice

Amol S Joglekar

Amol S Joglekar (Expert)

20 November 2014 You are always welcome.
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