Is any professional CA is here please reply

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This discussion provides guidance for individuals on how to pay income tax for an income of ₹1 Crore. It outlines the process of calculating tax liability, including surcharge and cess, and details the mandatory advance tax payment schedule throughout the financial year. The advice also suggests comparing the New and Old Tax Regimes to find the most beneficial option and stresses the importance of maintaining proper documentation and verifying records with AIS/Form 26AS.

Subhash suthar

Subhash suthar (Querist)

21 September 2026 Kya koi professional CA hai idhar jo mujhe bata sake ki 1 crore ki income ko kaise tax bhare abhi kisi ko hire nahi kar raha hu bas chating karni hai

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

21 September 2026 First derive the income tax liability over the income. Then pay advance tax as per the scheduled quarter i,e 15% in Q1; 45% aggregate in Q2; & totally 75% by Dec 15 of TY. Finally 100% by March 15th.

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

21 September 2026 Hi Subhash, To manage and pay income tax on an income of ₹1 Crore, follow this step-by-step process: Identify Income Classification: Verify whether the ₹1 Cr is derived from Business/Profession, Capital Gains, Salary, or Other Sources, as deduction eligibility varies. Surcharge & Cess Liability: On an income of ₹1 Cr, a 10% Surcharge is added to your basic tax liability, followed by a 4% Health & Education Cess on the aggregate amount.Mandatory Advance Tax Schedule: Pay taxes quarterly during the financial year to avoid interest penalties under Sections 234B & 234C:15% by 15th June45% by 15th September75% by 15th December100% by 15th MarchCompare Tax Regimes: Calculate liability under both the New Tax Regime (u/s 115BAC) and the Old Tax Regime to select the lower tax payout option.Documentation & AIS Verification: Reconcile your records with AIS/Form 26AS and ensure proper books of accounts are maintained to handle high-value tax disclosures.

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