What is correct?

it is a myth

how can one payy tax withearnig adeqaue income to pay tax

income tax is levied as per incometax rules at the rates prescribed by the incometax departement from time to time.

No. it is incorrect

No........ I think Its profesional Tax..however not apllying to Individuals.. But to propritors..!

Agree with Ashish ... One has to pay Advance Tax .. and the concept can be broadly defined as tax on estimated income....

Originally posted by : eTaxMentor
	I read somewhere that some individuals must pay estimated tax each year. However, I received conflicting information from another source. What is correct?

Some Individuals or persons ???

Advanced tax is to be paid on estimated income...

ur ques is incomplete,, conflicting in itself.. pls xplain wat xactly u wanna ask..??
 

you can pay advance tax on estimated income only if u r tax liability goes above 5000