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…….!
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Fixe term employment
- Is any professional CA is here please reply
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Section 50-fixed asset-->building ceases to exist
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
