Advance Tax
This query is : Resolved
24 December 2008
We r a propreitorship firm it seem to us that our tax lability will across the limit of Rs. 5000 /- then how we have to paid our Tax.I am not confirm pretty much about the three installment which we have to paid . So Please throw some light on it.
24 December 2008
Estimate the tax liability for the year:
the schedule for payment of advance tax as per sec 210 is as per under:
Advance Tax is payable when tax liability is Rs.5000 or more (after deducting the amount of TDS)
pay 30% of tax upto 15th Sept.(1st Inst.)
pay 60% of tax upto 15th Dec.(2nd Inst.)
pay 100% of tax upto 15th Mar.(3rd Inst.)
In case we are talking of AY 2009-10 where the time for first two instalment has already lapsed, then we may deposit the entire amount by 15the march
the schedule for payment of advance tax as per sec 210 is as per under:
Advance Tax is payable when tax liability is Rs.5000 or more (after deducting the amount of TDS)
pay 30% of tax upto 15th Sept.(1st Inst.)
pay 60% of tax upto 15th Dec.(2nd Inst.)
pay 100% of tax upto 15th Mar.(3rd Inst.)
In case we are talking of AY 2009-10 where the time for first two instalment has already lapsed, then we may deposit the entire amount by 15the march
24 December 2008
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