ADVANCE TAX

rahul sharma (Student) (64 Points)

27 January 2009  

Hello Friends...

My question is..

If Mr.X is an individual rendering professional services as a Management Consultant.He received Rs.72,500 per month (After Deducting TDS) from his client XYZ Pvt Ltd.He operates his profession from his house.

He have some expenses like :-

1. His Mobile Bill

2.His Electricity Bill

3.His Medical expenses bill

4.His Club fees

5. capital Exp - Purchased a T.V

& Some petty Exp like petrol,cable T.V bill etc etc...

and he have a Car also.

He also invested Rs.75,000 in Provident Fund and Rs.25,000 in LIC.

Now I Want to Know HOW CAN I COMPUTE MR. X TAXABLE INCOME and ADVANCE TAX TILL DATE as he did'nt deposited any advance tax till date....???????

PlZ Solve My Query as soon as possible...

U can send any information related to this to carahul_rdb @ yahoo.com