i am confusing with self assessment tax and advance tax .please clarify me with an EXAMPLE
SUNILKUMAR WADHWANI
(Chartered Accountant)
(320 Points)
Replied 20 October 2012
REFER TO ATTACHED SHEETS.
Sonu Kumar
(Account Manager)
(665 Points)
Replied 20 October 2012
if ur Tax Liability is more than 10 k for the Year u r Liable to Pay Advance Tax on the basis of self assesment, self assesment tax is nothing but expected tax liability for the year on that Basis we pay advance tax........
Assessed Tax - TDS = Advance Tax
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