Advance Tax Major

Our director son has become major recently he has income from FDR interest above Rs 10 lacs

Does he need to pay Advance Tax and can we pay his advance tax from Father's account
Replies (11)
Quick Summary
This discussion clarifies that a minor director's son, with income exceeding Rs 10 lacs from FDR interest, is liable to pay advance tax once they reach the age of 18 and are assessed independently. Payments can be made from the father's account, provided the son's PAN is clearly indicated. The tax liability threshold for advance tax is over Rs 10,000.

The minor completes the age of 18, then the provisions for clubbing would not apply in his case and he would be assessable independently.
The Circular clarifies that a taxpayer can make electronic payment of taxes from the account of any other person. Care must be taken that while making such payment from another person's account, the Permanent Account Number (PAN) of the taxpayer on whose behalf the payment is to be made must be clearly indicated.
Son is required to pay advance tax as tax liability is more than Rs 10000 and he can pay from father's account.
If he is a major then you may very well pay advance tax using his PAN and no restriction on paying from father's bank account using sons PAN
These are truffle issues.
resolve like this
1. tax liability
2. pay tax
3. above threshold limit.
4.if wants to get refund, file itr
Using a PAN , Tax payment can be done from others bank account only .

Else pay through OTC
Irrelevant regarding the subject
Your answers irrelevant. Give answer to the query asked and reply only if you have practical knowledge
@ Eshwar Reddy is correct on this query.
@ Sabyasachi Mukherjee Please be specific to the query.
Rashmi
the querist has never asked for pan adhar, he have asked for whether the directors son need to pay advance tax. If he has the relevant kyc , everything ends up successfully.
Read the query again
@ Sabyasachi mukherjee, I have not replied in respect of pan aadhar. Just check my reply first

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