company advance tax
This query is : Resolved
15 September 2010
is it compulsory to pay corporate advance tax by net baking only? Plz guide us.
15 September 2010
Yes... its mandatory
15 September 2010
YES. No other mode is possible.
The Central Board of Direct Taxes, vide notification S.O.No.493(E) dated 13.3.2008
have notified the categories of taxpayers who are mandatorily required to electronically pay taxes on or after the 1st day of April, 2008. The taxpayers who are required to pay taxes by the prescribed mode are – (i) a company; and (ii) a person (other than a company), to whom provisions of section 44AB of the Income-tax Act, 1961 are applicable.
Notification link---
https://www.incometaxindia.gov.in/archive/CircularNo.5-21072008.pdf
The Central Board of Direct Taxes, vide notification S.O.No.493(E) dated 13.3.2008
have notified the categories of taxpayers who are mandatorily required to electronically pay taxes on or after the 1st day of April, 2008. The taxpayers who are required to pay taxes by the prescribed mode are – (i) a company; and (ii) a person (other than a company), to whom provisions of section 44AB of the Income-tax Act, 1961 are applicable.
Notification link---
https://www.incometaxindia.gov.in/archive/CircularNo.5-21072008.pdf
15 September 2010
thnks
15 September 2010
In view of CBDT Notification 34/2008 dated 13/3/2008 read along with section 2(43) of the Income tax Act,1961, corporate assessee's has to pay advance tax by electronic mode only.
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