Advance TAx
This query is : Resolved
18 December 2010
Dear Experts,
Can u tell me the limit of advance tax to be paid for a resident individual for the FY 2010-11.
If advance tax is paid, is there a need to deduct TDS if the person's income is salary income?
Pls guide
Can u tell me the limit of advance tax to be paid for a resident individual for the FY 2010-11.
If advance tax is paid, is there a need to deduct TDS if the person's income is salary income?
Pls guide
18 December 2010
sir, if you have income from salary which exceeds the maximum limits not chargeable to tax, then TDS will be deducted from your income.Balance tax payable after deducting TDS is advance tax liability.
limit for f.y.2010-11 is Rs.10,000/-.
TDS will be deducted from salary income even though advance tax has been paid by assesee.
limit for f.y.2010-11 is Rs.10,000/-.
TDS will be deducted from salary income even though advance tax has been paid by assesee.
18 December 2010
what is the due date for payment of advance tax for individuals?
18 December 2010
Next installment of Advance tax has to be paid on or before March 15,2011.
If total tax payable is more than Rs.10,000, then one must pay advance tax.
In case of salary, if your salary income exceeds exemption limit, your employer pays you salary after deducting TDS.
The present exemption limit for a resident individual is Rs.1,60,000/-
If total tax payable is more than Rs.10,000, then one must pay advance tax.
In case of salary, if your salary income exceeds exemption limit, your employer pays you salary after deducting TDS.
The present exemption limit for a resident individual is Rs.1,60,000/-
18 December 2010
IF Advance Tax is paid by the individual, then is it mandatory to deduct TDS on salary?
18 December 2010
TDS will be mandatory first, while paying Advance tax you can consider the TDS deducted amount and balance you can pay and match with limit of advance tax
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Registration as Authorised Representative of minor
- ESIC- Employee Registration
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
