Advance tax

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cheenee

cheenee (Querist)
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14 December 2013 who r liable to pay advance tax

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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14 December 2013 Those who are having net tax liability (after adjusting the TDS Credit) exceeds Rs 10000/- are liable to pay advance tax.
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Yogesh Goel

Yogesh Goel (Expert)
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14 December 2013 Every assesse, except in case of individuals only those whosr expected tax liablity for current fin year exceeds rs 10000

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Naresh Dharia F.C.A.

Naresh Dharia F.C.A. (Expert)
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14 December 2013

CBDT Order U/s 119 Extending Due Date For Paying Advance-tax

The CBDT has issued an Order dated 13.12.2013 under section 119(2)(ia) of the Income-tax Act, 1961 extending the last date of payment of the December Quarter Instalment of Advance Tax for the financial year 2013-14 from 15th December 2013 to 17th December 2013 for all the assessees, Corporate and other than Corporates.

Naresh Dharia F.C.A.

Naresh Dharia F.C.A. (Expert)
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14 December 2013 In case an individual age more than 60 years, having income from Other Sources...ONLY SOURCE OF INCOME....
NOT REQUIRED TO PAY ADVANCE TAX IN TIME..w.e.f. 1.4.2013....Hence section 234 B & 234 C is NOT APPLICABLE