Advance tax
This query is : Resolved
12 October 2015
Dear sir.
My owner has director of 2 company and drawn salary from both company and tds around 5000 per month is deducted from this remuneration . Apart from he is doing a sole trading company around turnover of below 50 lakhs and expected net profit is Rs 3,00,000 in year . I doubt is whether advance tax is required in this case
Kindly advise me .
My owner has director of 2 company and drawn salary from both company and tds around 5000 per month is deducted from this remuneration . Apart from he is doing a sole trading company around turnover of below 50 lakhs and expected net profit is Rs 3,00,000 in year . I doubt is whether advance tax is required in this case
Kindly advise me .
12 October 2015
No advance tax is required if he declares 8% profit on turnover u/s 44AD.
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