what is treatment of Advance tax in case of companies or individual?
what is due date for advance tax to both?
when does it applicable to companies and individual?
pl help
Sharad Saini
(Student)
(286 Points)
Replied 12 November 2010
advance tax is payable by a person when his tax liability after adjusting TDS/TCS/Relief u/s 90,90A, 91 exceeds rs 10000.
Due dates for companies : 15 june, 15 sept, 15 dec and 15 mar (4installments)
for individual : 15 sep ,, 15 dec and 15 mar (3 installments)
if advance is not paid or payment is defferd then int is payable u/s 234B, C.
for details u may refer sec 208, 209, 210 of Income tax Act, 1961
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