ADVANCE TAX
This query is : Resolved
Guest
Guest
(Querist)
16 January 2010
FOR THE PURPOSE OF SEC:234B READ WITH SEC:208 ADVANCE TAX IS TO BE PAID IF LIA. IS MORE THAN 5000
SUPPOSE TAX LIABILITY IS 12000 AND TDS IS RS.3000 WILL ADVANCE TAX LIA. WILL OCCURE (ASSESSED TAX 9000)
SUPPOSE TAX LIABILITY IS 12000 AND TDS IS RS.3000 WILL ADVANCE TAX LIA. WILL OCCURE (ASSESSED TAX 9000)
CMA Ramesh Krishnan
(Expert)
16 January 2010
The given case the Advance tax liability will not arise, for calculation of advance tax we need to minus the the TDS deductible or collectible
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