Advance tax on salaried person

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Brajesh gautam

student

232 Points Joined November 2008

CAN ANY ONE TELL THAT IS ANY ADVANCE TAX PAID FOR SALARIED PERSON.

Replies (3)

Prakash

Chartered Accountant

560 Points Joined September 2011

Not required in many casses

As Employer Has to Deduct TDS and Remit the same to Govt, Otherwise this Expenditure will be disallowed to Employer

And if at all Employer not deducting TDS, though he aware of Provisions, Employee may Voluntarily pay advance tax otherwise at the end he may require to pay interest on Tax Due

If at all Employee has any other Income other than his salary and which he was not informed to his employer, He should be liable to Pay Advance Tax

CA Deepesh Ruhela

Keen to Learn

3271 Points Joined August 2010

Dear Brajesh ji,

No advance tax is payable if the total tax liability after reducing the tax deducted at source is less than Rs. 10,000/-.

Advance Tax Installments & Due Dates

Due Date	Amount of Tax
15th September	At least 30% of Tax on total income for the year.
15th December	At least 60% of Tax on total income for the year less advance tax already paid.
15th March	100% of Tax on total income for the year less advance tax already paid.

CA PRAVEEN SINGH

MANAGER ACCOUNTS

2277 Points Joined August 2011

Not required in many casses

As Employer Has to Deduct TDS and Remit the same to Govt, Otherwise this Expenditure will be disallowed to Employer

And if at all Employer not deducting TDS, though he aware of Provisions, Employee may Voluntarily pay advance tax otherwise at the end he may require to pay interest on Tax Due

If at all Employee has any other Income other than his salary and which he was not informed to his employer, He should be liable to Pay Advance Tax

Right prakash..