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advance tax
my mother is a salaried person. she is having slab rate of 30 percent. she also have interest on fixed deposit in which TDS is deducted. does she have to pay advance tax on interest on fixed deposit before 31st march for this financial year?
Replies (3)
If her estimated total tax liability for FY 2017-18, exceeds the TDS deducted (by employer & bank) by Rs. 10,000 or more, then she has to pay advance tax (every quarterly)
It mostly depends upon the the FD amount...... as bank deduct TDS at 10%, while difference arises because of tax slab of 30%.
if your mother is senior citizen and not having income from business and profession than it is not required to pay advance tax.
She is working and not a senior citizen. but she is not having any business income
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