Hello everybody
my firm is a start up which is established on 2019 September. since thae day I've never been paid any advance tax till date.
net profit as on date Rs. 1,50,000
preliminary exp amounting to Rs. 4,90,000. Since preliminary expenses have to be amortised in 5 equal installments , I've an assumption my NET PROFIT would be around 50,000 after depreciation.
So my question is about whether I have any liability of advance tax ? or can I pay the tax in full as self-assessment tax ?
thanks..,
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Advance tax
Replies (1)
If Your tax payment exceeds above 10k then You can pay advance tax...
If not exceeding then no need to pay Advance tax...
Otherwise You can pay "SELF ASSESSMENT TAX" at the time of filling ITR..
If not exceeding then no need to pay Advance tax...
Otherwise You can pay "SELF ASSESSMENT TAX" at the time of filling ITR..
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