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advance tax

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(Querist)
01 September 2008 1)what are dates for payment of advance tax?

2) what rate are applicable ?

3)on wht income isthat calculated??

4

if more tds had been deducted on incomes does there is any need to pay advance tax?/
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
02 September 2008 In case of a company the tax is to be deposited on 15.06, 15.09, 15.12 and 15.03 every year @ 15%, 45%, 75% and 100% of assessed tax respectively.
In case of other persons it is to be deposited on 15.09, 15.12 and 15.03 every year @ 30%, 60% and 100% of assessed tax respectively.

Assessed tax means tax due on income-TDS/TCS

In case TDS covers the total tax due on such income and the assessed tax figure is Rs. 5,000/- then there is no need to deposit advance tax
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