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Advance Tax

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(Querist)
10 September 2008 Please tell me more about advance tax and related form for filling.
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Taxguy

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Taxguy (Expert)
10 September 2008 You have to pay advance using form ITNS 280. You have to calculate the advance tax and then pay it in a bank and keep the receipt for your reference.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
11 September 2008 As per section 210 every person is supposed to pay advance tax in case the assessed tax(Tax due-TDS) on the taxable income is 5000 or more. The advance tax is to be paid by corporates and others in 4 ( by 15th June-15%, 15th Sept-45%, 15th Dec-75%, 15th March-100%)and 3 (15th Sept-30%, 15th Dec-60%, 15th March-100%)instalments respectively.
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