Advance tax
This query is : Resolved
purushottamreddy
(Querist)
17 June 2016
sir, tell me how to calculate advance tax
18 June 2016
The advance tax is paid by estimating his current income. This can be done by adding some expected percentage to the previous year's same quarter income i.,e for calculation of 2016-17 Q1, add estimated percentage to the income of 2015-16 Q1 and calculate the tax thereon by applying the rate in force. (Statement of income need not be submitted).
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