Hey, So i am a contractor and my annual income will go above 30lpa thats projected . I am gonna file unders ection 44ada this year so just wanted to know if i need to pay advance tax or not .. cause many sites write that i need to pay advance tax every quarter and some sites says that i can pay all the 100% tax before 30th march as advance tax and then file itr with this advance tax .. so my question being should i do quarterly apyment of advance or just file before 30th march the whole amount ? Also preivious year i got some amount of penalty i think 1000 ruppes for late payment of something even though i payed it before 30th march , so please help
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Advance Tax For Freelancers
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For the income declared under presumptive assessment i.e. u/s 44AD or 44ADA the 100% tax liability can be paid on or before 15th march, If paid after that interest for the month is levied.
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