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advance tax

Others 226 views 3 replies
if any person provide his service and received his payment after deducting tax collection source, then that person is liable to pay advance tax or not..
Replies (3)
advance tax to be paid on estimated income for the year reduced by TDS /TCS, if any

TDS is deducted at specified rate under different section. If after considering TDS tax us payable is more than 10000/- then you should pay advance tax during the financial year to avoid interest under section 234B/C or you may pay at the time of filing ITR in that case interest under section 234B and C applicable.

agreed with umesh sir


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