Advance tax not paid
This query is : Resolved
12 March 2009
We are not paid any Advance tax as on today and out Assessing Officer is DCIT.
Does he have powers to prosucution.
Please give me suggession with refering section of IT Act
Does he have powers to prosucution.
Please give me suggession with refering section of IT Act
13 March 2009
Every whose estimated income(excluding capital gain and casual income) is more then 5000 need to pay advance tax.
Since you have not paid AO can issue a “show cause notice”(show me reason) requiring you to either pay tax or show with necessary detail that you tax liability is less then rs 5000.
You need to answer such notice with a statement of estimate showing tax liability is less then Rs 5000
Regards…….!
Since you have not paid AO can issue a “show cause notice”(show me reason) requiring you to either pay tax or show with necessary detail that you tax liability is less then rs 5000.
You need to answer such notice with a statement of estimate showing tax liability is less then Rs 5000
Regards…….!
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