Advance tax
This query is : Resolved
14 September 2011
Respected Sir,
can you please tell me on which amount Advance Tax is calculated.
Thanks & Regards
Mangesh S. Mohite
can you please tell me on which amount Advance Tax is calculated.
Thanks & Regards
Mangesh S. Mohite
14 September 2011
For Corporate Assessee
1. On or before 15 June - not less than15% of tax payable
2. On or before 15 September - not less than 45% of tax payable
3. On or before 15 December - not less than 75% of tax payable
4. On or before 15 March - not less than 100% of tax payable
For Non Corporate Entities
1) By 15 September-Up to 30% of Estimated tax payable
2)By 15 December-Up to 60% of Estimated Tax payable
3)By 15 March- 100% Tax
Now to estimate how much advance tax you need to pay, you need to estimate the profit for the ensuing year and thereby Estimated Tax Payable. And this estimation varies from organization to organization.
Also see below article for more details---
https://www.caclubindia.com/articles/concept-of-advance-tax-10847.asp
1. On or before 15 June - not less than15% of tax payable
2. On or before 15 September - not less than 45% of tax payable
3. On or before 15 December - not less than 75% of tax payable
4. On or before 15 March - not less than 100% of tax payable
For Non Corporate Entities
1) By 15 September-Up to 30% of Estimated tax payable
2)By 15 December-Up to 60% of Estimated Tax payable
3)By 15 March- 100% Tax
Now to estimate how much advance tax you need to pay, you need to estimate the profit for the ensuing year and thereby Estimated Tax Payable. And this estimation varies from organization to organization.
Also see below article for more details---
https://www.caclubindia.com/articles/concept-of-advance-tax-10847.asp
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