Advance tax payment date

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 June 2012 What is the date of advance tax payment for PARTNERSHIP FIRM???.
Is partnership firm is corporate assessee in the eyes of income tax law? please clarify me because a C A firm has suggested his client(partnership firm) to pay advance tax on or before 15th june, 15th sept, 15th dec abd 15th march.is C A firm's suggestion is correct?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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29 June 2012 1. Section 211 of the Income Tax Act provides due date of payment of advance tax.

2. COMPANIES have to pay 4 instalments

3. Assessees other than COMPANIES have to pay 3 instalments.

4. Partnership firm is NOT a company. Accordingly a partnership firm is required to pay advance tax in 3 instalments and NOT 4 instalments.

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