Advance tax
This query is : Resolved
CA Santosh Havanur
(Querist)
18 July 2012
Warm Regards
Whether a person having Salary Income, SOP Loss, small amount of Interest income have to pay advance tax or he is exempt from it.
Please also confirm as whether he need to pay Advance tax if he is having only salary income.
Thanks in Advance.
Whether a person having Salary Income, SOP Loss, small amount of Interest income have to pay advance tax or he is exempt from it.
Please also confirm as whether he need to pay Advance tax if he is having only salary income.
Thanks in Advance.
CMA Ramesh Krishnan
(Expert)
18 July 2012
Advance tax applicable, when the tax liability exceeds Rs.10000/- Salaried persona also covered this category. only thing, while calculating eligibility you can consider the TDS deducted by the employer also.
Message likes :
1 times
CA Santosh Havanur
(Querist)
18 July 2012
Thank you sir. So the only special provision is we have to deduct TDS from the assessed tax to compute the eligibility.
CA Prashant Gupta
(Expert)
18 July 2012
dear Santosh
if your tax is more than 10000/- then advance tax will be calculating by Tax-TDS. So you can't ignore if tax-TDS is less than 10000
if your tax is more than 10000/- then advance tax will be calculating by Tax-TDS. So you can't ignore if tax-TDS is less than 10000
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Form 144 TDS Return Validation Error – Mandatory Fields
- GSTR9 Annual Return
- Gift to nri relatives resides in usa
- Applicability of tax on invoice
- Capital Gains Tax on Inherited Mutual Fund
- LLP audit and disclosure
- GST ITC as per notification 12/2023- central tax
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
