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Advance Tax

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(Querist)
08 December 2016 What is Advance tax ? ... Assessee - Individual or Partnership Firm.
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
08 December 2016 ADVANCE tax is income tax payment to be paid in advance if tax liability exceed Rs.10000/-or more in a financial year.

Advance tax Applicable to all assasee due date 15 th June, 15 th September, 15th December and 15 March. Advance tax liability for 4 quarters.15%, 45% ,75% and 100%.
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MAYURESH TARE

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MAYURESH TARE (Querist)
08 December 2016 OK.. But what is the Income considered for calculation of Advance Tax ...Can someone please provide an example ?
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
08 December 2016 Gross total income from all head considered after deduction of Chapter VIA
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