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Advance Income tax deduction

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25 Points Posted on 21 July 2018
Advance Tax deducted from salary, which is liable to deduct from the total annual Income of salary or not?
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On 21 July 2018 at 01:56 Report
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Chartered Accountant
4524 Points Posted on 21 July 2018
the employer is required to mandatorily deduct TDS every month on Salary under Section 192 on the basis of average rate of income tax of the taxpayer for that financial year.
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On 21 July 2018 at 06:40
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"Do the Right Thing...!!!"
128147 Points Posted on 21 July 2018
Yes... It's deductible from. Your annual income. Also they ll consider your deduction (80c, VI-A details & others). May be consider your other incomes if any... TDS also treated Advance Tax.
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On 21 July 2018 at 07:36
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25 Points Posted on 21 July 2018
Sir I mean to say Advance Income tax deduction from salary & TDS deducted from other income sources is liable deduct from total gross income or like deduction under section 80
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On 21 July 2018 at 10:18
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128147 Points Posted on 21 July 2018
Yes.. It's from salary and you can consider to IFOS amount also.
463 Reply
On 21 July 2018 at 16:37
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25 Points Posted on 21 July 2018
Thanks sir, I am satisfied with answer
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On 21 July 2018 at 19:59
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"Do the Right Thing...!!!"
128147 Points Posted on 21 July 2018
Originally posted by : Vijay Lokhande
Thanks sir, I am satisfied with answer

You are most welcom Sir...

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On 21 July 2018 at 21:14
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25 Points Posted on 22 July 2018
What is the meaning IFOS Amount sir
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On 22 July 2018 at 00:26
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128147 Points Posted on 22 July 2018
IFOS : Income From Other Sources...
IFHP : Income From House Property...
PGBP : Profit and Gain from Business and Profession...
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On 22 July 2018 at 00:34
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24196 Points Posted on 22 July 2018
Good explanation sir..........
161 Reply
On 22 July 2018 at 00:50
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25 Points Posted on 22 July 2018
Thank very much for the Explanation..
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On 22 July 2018 at 14:00


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