Advance tax

This query is : Resolved

seeta (Querist)
Follow

13 December 2011 Sir,
Please tell me how to calculate advance tax in case of company.
as due date is 15/12/11
upto to what date we will calculate taxable profit for advance tax due on 15/12/11.

its urgent
reply

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

13 December 2011 Step 1: Calculate taxable profit for the whole year.

Step 2: Calculate total tax liability for the whole year.

Step 3: Reduce the total tax liability by TDS etc.

Step 4: Calulate 75% of the net tax laibility.

Step 5: Reduce the advance tax already paid from the liability in Step 4.
The balance amount is to be paid as advance tax by 15th December.

seeta

seeta (Querist)
Follow

13 December 2011 Sir,
How should i know about whole year profit

Pls tell me its urgent

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

13 December 2011 You know the profit till date. Estimate the profit for the whole year on that basis.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

RAGHUNATH KASIBHOTLA

raval umesh

Rameshkumar Jain

DSK TMC

Hemkumar

Subscribe Now

Advance tax

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA