Advance tax
This query is : Resolved
14 March 2014
in which situation advace tax is paid & what is the date of advace tax?
15 March 2014
Every assessee has to estimate his total income for the year and tax liability thereon.
From the tax computed above, reduce TDS. If the balance amount exceeds Rs. 10,000 then the assessee is liable to pay advance tax.
Due dates of payment of advance tax:
Company:
On or before the 15th June - fifteen per cent of such advance tax.
On or before the 15th September - forty-five per cent of such advance tax, as reduced by the amount, if any, paid in the earlier instalment.
On or before the 15th December - seventy-five per cent of such advance tax, as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments.
On or before the 15th March - 100% of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments
OTHER ASSESSEES:
On or before the 15th September Not less than thirty per cent of such advance tax.
On or before the 15th December Not less than sixty per cent of such advance tax, as reduced by the amount, if any, paid in the earlier instalment.
On or before the 15th March The whole amount of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments
From the tax computed above, reduce TDS. If the balance amount exceeds Rs. 10,000 then the assessee is liable to pay advance tax.
Due dates of payment of advance tax:
Company:
On or before the 15th June - fifteen per cent of such advance tax.
On or before the 15th September - forty-five per cent of such advance tax, as reduced by the amount, if any, paid in the earlier instalment.
On or before the 15th December - seventy-five per cent of such advance tax, as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments.
On or before the 15th March - 100% of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments
OTHER ASSESSEES:
On or before the 15th September Not less than thirty per cent of such advance tax.
On or before the 15th December Not less than sixty per cent of such advance tax, as reduced by the amount, if any, paid in the earlier instalment.
On or before the 15th March The whole amount of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments
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
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Difference between Date of Payment and Date of Deduction?
- TDS AND ITR ISSUE
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- GST Rate for Catering Services
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
