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advance tax
anyone share the changes that have been regarding the advance tax...
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there is material change in section 234a & 234c, in respect interest on advance tax liability
further there has been introduced nuclear provision for all assessees liable to pay advance tax except assessees fall u/ s 44ad.
Nisha ji what's that material change
regarding percentage of advance tax on which interest u/ s 234c to be levied
if before 15 June or 15 sept you have deposited less than 15 or 45 percent of advance tax liability. but deposited 12 or 36 percent of the tax due, respectively. then no interest under that section will levy.
Nisha ji these 12% and 36% criteria were in IT RULES for very long time
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