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Advance tax on june 30 th

Others 939 views 7 replies

hey friends..

is it ncecssary to file taxes(advance tax) before june  30 th for a pvt ltd co tht has yet  not done any business ?

pls reply.. its very urgent...

thank you...

Replies (7)

NOT AT ALL,.

No there is no need to pay adv tax as one is not certain abt activity level and expected taxable income.

U/S 139, every co. falling under tax audit u/s 44AB need to file return within due date and for every other person if total income exceeds max. tax free limit then need to file return. U/s 208 Advance tax to be paid if tax payable is Rs. 5,000 or more. If the Pvt. Ltd. co. fulfills the condition then need to file tax return within due date.

thanks a lott for the reply guyss :)

every company has to deposit 15 percent of net tax liability after Tds upto 15 june of previous year if tax liability is expected to be or be Rs 5000 or more whether income is earned after the specified period

Originally posted by :Tarun Sharma
" every company has to deposit 15 percent of net tax liability after Tds upto 15 june of previous year if tax liability is expected to be or be Rs 5000 or more whether income is earned after the specified period "


 

i am in full agreement  with Tarun Sharma.

advance tax has to be paid by  every company in four installments. To escape from paying interest under section 234C one has to compute the net liability of tax at the end of the accounting year and then has to pay 15% on or before June 15th


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