Advance tax

This query is : Resolved

Clinton Hinchcliffe (Querist)
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01 February 2020 Sir if monthly gross income of a salaried person is 100000 and monthly tax deducted and paid by the employer of the person concerned is Rs 3000.Will he be liable to pay advance tax ?

RAJA P M

RAJA P M (Expert)
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02 February 2020 Yes... I think, The 3000 is very lesser amount of TDS. May be TDS will be deductible around 13k in every month after claim 80C limit... Better to check out with Your consultant.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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26 May 2020 If you Income Tax liability is equal to or more than Rs. 10K you need to pay Advance Tax as per Income Tax. Please calculate Net Income liable to tax after all deductions and rebates.

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