Advance tax
This query is : Resolved
22 July 2010
How can i compute my income, without even knowing what would be my income for this year and how can i deposit tax on such income ?
i m in Business, how can i
i know advance tax is payable for tax over Rs.10000
i just don.t understand this
How can i compute my income, without even knowing what would be my income for this year and how can i deposit tax on such income ?
i m in Business, how can i
i know advance tax is payable for tax over Rs.10000
i just don.t understand this
Aditya Maheshwari
(Expert)
22 July 2010
It is all based on estimation of total income.
22 July 2010
may be take previous year income and forecast ur sales based on tat... apply the profit ratio applicable to u (or general in that industry) and calculate ur profit
may be in the initial years u wil find it difficult.
u may seek the advice of a tax consultant regarding this
may be in the initial years u wil find it difficult.
u may seek the advice of a tax consultant regarding this
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Aditya Maheshwari
(Expert)
23 July 2010
Yes the keyword here is estimation which will depend upon you and also can be done in the way suggested by srinath.
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