What is the Ist instalment of Advance tax (FY 2018-19)
1) Salaried bank employees (my wife)
2) Professional consultant (self )
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Ist instalmet of advance tax
Replies (4)
| Due Date of Installment | Amount Payable |
|---|---|
| On or before 15th June | 15% of the Advance Tax |
1. For Salaried person, no need to pay advance tax.
2. For other if tax payable is more than 10000, then pay advance tax in four installement. Due date is mentioned above by Mr. Rahul.
2. For other if tax payable is more than 10000, then pay advance tax in four installement. Due date is mentioned above by Mr. Rahul.
As per my view,
Advance Tax is payable by Salaried Employees also, if
The difference between actual tax liability on Salary and TDS (Tax Deduction at Source) is more than Rs 10,000.
Also, make sure that she does not have income from other sources like Interest from Bank FD, Investment Income. The advance tax is definitely payable even by salaried employees on their other income.
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