Advance tax payment regarding
This query is : Resolved
12 December 2010
is that advance tax payment is cumpulsory for pvt Ltd companies if not paid what happens
12 December 2010
Conditions of liability to pay advance tax is set out in section 208 of the Income tax Act,1961. Accordingly if the income tax payable is Rs. 10,000/- or more payment of advance tax becomes mandatory. Failure attracts interest liability under sections 234B and C of the said act.
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