Advance tax liability
This query is : Resolved
sandesh tare
(Querist)
12 December 2011
please provide information pertaining how to calculate advance tax laibility, if there is loss in previous year. is last year loss adjusted against current year profit
kindly provide information it is so urgent
kindly provide information it is so urgent
CA PARAS BAFNA
(Expert)
12 December 2011
Advance Tax Liability is calculated when the tax payable by the assessee exceeds Rs 10000/-
.
In circumstances , where the profits are likely to be set off against the b/fd losses, Advance Tax is not required to be paid as the.
.
Clause (d) of Section 209(1) considers tax computation not only on the basis of current income but on total income also.
.
Total Income can be arrived by considering the b/fd losses which can be set off.
.
In circumstances , where the profits are likely to be set off against the b/fd losses, Advance Tax is not required to be paid as the.
.
Clause (d) of Section 209(1) considers tax computation not only on the basis of current income but on total income also.
.
Total Income can be arrived by considering the b/fd losses which can be set off.
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