Advance tax calculations

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venu (Querist)
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05 November 2017 dear sir,
for advance tax calculaation actual figures of sales plus esimated figure of sales need to consider and which profit need to consider for advance tax that is profit as per pgbp that after deduct the allowable deductions or normal accounting profit

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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05 November 2017 You have to calculate Taxable profit i.e including all income less all deduction

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venu

venu (Querist)
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05 November 2017 dear. sir, taxable. profit. includes. all. 5heads. of. income. or. only. One. head. of. pgbp. income. for. advance. tax

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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05 November 2017 All the 5 heads of income

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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05 November 2017 But sometimes it doesn't include Capital Gain

venu

venu (Querist)
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05 November 2017 which. capital. gain. sir. is. it. share. capital. gain. or. any. other. please. provide. the. details

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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05 November 2017 For eg land sold on Dec 17 than you don't have to pay advance tax on Jun 17 & sept 17 but you have to pay the advance tax of 75% on Dec 17

venu

venu (Querist)
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05 November 2017 dear sir,
all deductions includes the tdsalready paid need to consider for advance tax calculations or total income less deductions 8o sections only it does not includes the tds already paid is it correct or not

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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05 November 2017 Advance Tax to be calculated after TDS Deduction

venu

venu (Querist)
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05 November 2017 thank. you. very. much. sir

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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05 November 2017 Welcome Mr.Venu Ji

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Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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