Advance tax liability
This query is : Resolved
22 February 2018
Dear Sir,
We have received Advance from our client and we are service provider then we are liable to pay advance tax on this advance. Please replay as soon as possible.
We have received Advance from our client and we are service provider then we are liable to pay advance tax on this advance. Please replay as soon as possible.
22 February 2018
No need to pay advance tax on advance received unless Service is rendered.
22 February 2018
Sir,
At this time our work in progress it will be completed in 2-3 month then we should liable to pay advance tax liability on Advance payment received.
At this time our work in progress it will be completed in 2-3 month then we should liable to pay advance tax liability on Advance payment received.
22 February 2018
You have to estimate the profit for the year and based on which advance tax is payable. Receipt of advance is not related but quantum of profit estimated is relevant.
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