Advance tax vs Tds
This query is : Resolved
27 August 2010
Dear friends
One doubt about adv tax. while calculating advance tax is TDS is deducted from tax
One doubt about adv tax. while calculating advance tax is TDS is deducted from tax
Aditya Maheshwari
(Expert)
27 August 2010
Yes advance tax to be paid is calculated by first reducing TDS.
Message likes :
1 times
27 August 2010
AGREED,
ADVANCE TAX TO BE PAID AFTER CONSIDERING TDS WHICH IS DEDUCTED BY OTHER PARTY.
TDS ALSO IS DEDUCTED FROM TAX LIABLITY FOR CALCUALTION OF INTERST U/S 234 B & C REALTED TO ADVANCE TAX.
ADVANCE TAX TO BE PAID AFTER CONSIDERING TDS WHICH IS DEDUCTED BY OTHER PARTY.
TDS ALSO IS DEDUCTED FROM TAX LIABLITY FOR CALCUALTION OF INTERST U/S 234 B & C REALTED TO ADVANCE TAX.
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