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Brajesh gautam (student)     05 December 2011

Advance tax on salaried person

HI

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



 3 Replies

Prakash

Prakash (Chartered Accountant)     05 December 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

CA Deepesh Ruhela (Keen to Learn)     05 December 2011

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

CA PRAVEEN SINGH (MANAGER ACCOUNTS)     06 December 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..


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