Income tax advance
This query is : Resolved
Rahul Ojha
(Querist)
10 September 2012
Sir,My question is advance tax for finincal year-2012-13 is calculated Rs.2,44,850/-.
1.How can deposit advance tax full payment or 1/4 quarterly ?
1.How can deposit advance tax full payment or 1/4 quarterly ?
CA Ilayaraja
(Expert)
10 September 2012
Hi rahul. As u have not given the type of assessee i m treating it as resident male individual
So Basic Exemption limit is 2,00,000
Balance amont taxable is Rs 44850@10.30% 4620
Tax to be paid before Sep 15 is 30% of 4620 = 1386
Tax to be paid before Dec 15 is 30% of 4620 = 1386
Tax to be paid before March 15 is 40% of 4620 = 1848
Total 100% of tax due is paid before 15 march
So Basic Exemption limit is 2,00,000
Balance amont taxable is Rs 44850@10.30% 4620
Tax to be paid before Sep 15 is 30% of 4620 = 1386
Tax to be paid before Dec 15 is 30% of 4620 = 1386
Tax to be paid before March 15 is 40% of 4620 = 1848
Total 100% of tax due is paid before 15 march
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