banner_ad

Advance tax

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
04 August 2013 Sir plz i want to knw whn advance tax is required to be paid?? Thank in advance
Profile Image

CMA. CS. Sanjay Gupta

Profile Image

CMA. CS. Sanjay Gupta (Expert)
04 August 2013 Advance Tax is based on pay as you earn concept.

Every assessee shall be liable to pay advance income-tax during any financial year in respect of his total income of the financial year, if the amount of advance income-tax payable exceeds ten thousand rupees.

Advance Tax is paid in installments. The amount payable is to be calculated in the following manner:

For Corporates:

By 15th June - 15%
By 15th Sept - 45%
15th Dec - 75%
15th March - 100%

For Non-Corporate:

By 15th June - NIL
By 15th Sept - 30%
15th Dec - 60%
15th March - 100%

The deposit of advance tax is made through challan ITNS 280 by ticking the relevant column.
Profile Image

Ganeshbabu K

Profile Image

Ganeshbabu K (Expert)
04 August 2013 Advance tax provisions not applicable to senior citizens if they dont have income from business and profession by virture of section 207(2)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details
Company
ARTICLESHIP 31 May 2026
CHARTERED ACCOUNTANT ARTICLE ASSISTANT

KPRS And Associates

New Delhi

CA Inter

View Details
Company
03 May 2026
Senior Chartered Accountant

Nirmal Jain & Co

New Delhi

CA

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
11 May 2026
CA Dropout

Patron Accounting LLP

Pune

CA Inter

View Details