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income tax

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Student
103 Points Posted on 14 October 2007

What is the difference between advance tax & self assessment tax.For which companies tax audit is mandatory.  

                                          ranjit

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On 14 October 2007 at 11:03 Report
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Chartered Accountant
4772 Points Posted on 14 October 2007
Advance Tax is tax paid in advance u/s 210 of IT Act Self Asst Tax is tax paid along with return for balance tax payable u/s 140A
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On 14 October 2007 at 11:25
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Chartered Accountant
3847 Points Posted on 14 October 2007
Dear ranjit ! Assesses doing business whose turnover is Rs.40 lakhs and above are liable for Tax Audit under section 44 AB.
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On 14 October 2007 at 11:52
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Chartered Accountant
157 Points Posted on 14 October 2007
Also even if the turnover is less than that prescribed, A it RETURN INDICATING NET LOSS BEFORE CHAPTER VI DEDUCTIONS, auditors certificate is necessary. Am I correct
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On 14 October 2007 at 21:18
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CA - Student
78 Points Posted on 15 October 2007
Dear Sir, I have paid the Advance income tax during the financial year 2005-2006. In this year i am not liable to pay income tax. In this case shall i adjust that advance income tax in the fringe benfit tax payble in the same year
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On 15 October 2007 at 10:59
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CA - Student
78 Points Posted on 15 October 2007
Dear Sir, I have paid the Advance income tax during the financial year 2005-2006. In this year i am not liable to pay income tax. In this case shall i adjust that advance income tax in the fringe benfit tax payble in the same year
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On 15 October 2007 at 11:01
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Financial Executive
438 Points Posted on 16 October 2007
It is not possible at your end since the FBT is payable in a seperate challan format ITNS 282. Only way of getting the tax paid as advance tax is to seek the refund of the same after furnishing the details through the IT return. FBT should be paid seperately.
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On 16 October 2007 at 07:11
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Article
47 Points Posted on 16 October 2007
NO you cant adjust the advance income tax paid againtst your liability of FBT
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On 16 October 2007 at 16:39


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