Advance Tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 March 2011
What is advance tax, who are liable to pay advance tax? Manish Sarawgi Cost Accountant
BALASUBRAMANYA B N
(Expert)
14 March 2011
Advance tax means collecting tax in adv in PY itself...
If you have tax payable more then 5k then you need to pay Adv tax in PY itself..
For ex:
If your tax payable for FY 2009-10 5k and more, then u need to pay in Adv tax in same FY..
15th September:-not less than 30% of tax payable
15th December:-not less than 60%
15th March:-100%
If you have tax payable more then 5k then you need to pay Adv tax in PY itself..
For ex:
If your tax payable for FY 2009-10 5k and more, then u need to pay in Adv tax in same FY..
15th September:-not less than 30% of tax payable
15th December:-not less than 60%
15th March:-100%
14 March 2011
The basic concept of advance tax is to pay tax as you earn your income.
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