Advance tax

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Querist : Anonymous

Querist : Anonymous (Querist)

28 June 2014 ON WHAT BASIS ADVANCE TAX IS TO BE PAID

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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28 June 2014 Where the calculation is made by the assessee, first estimate current income and then calculate income tax thereon at the rates in force in the financial year.

Rupesh Jain

Rupesh Jain (Expert)
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28 June 2014 if tax on your estimated income for the year is exceeds Rs. 10000/- then you have to pay advance tax. if your are senior citizen then no requirement of payment of advance tax.

Querist : Anonymous

Querist : Anonymous (Querist)

28 June 2014 A LTD
PREVIOUS YEAR PROFIT WAS 500000 AND PAY TAX ACCORDINGLY.

IN CURRENT YEAR ESTIMATED PROFIT SAY 800000
HOWEVER,TILL JUNE NO ANY INCOME AROSE THEN AM I REQUIRE TO PAY TAX IN ADVANCE

Querist : Anonymous

Querist : Anonymous (Querist)

28 June 2014 CAN U TELL ME ,
WHERE IT IS MENTION THAT NO ANY REQUIREMENT TO PAY ADVANCE TAX BY SENIOR CITIZEN

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