Budget 2024: Call for Amendments to Advance Tax Provisions for Individuals

Last updated: 09 July 2024

The Income-tax Act requires taxpayers to pay advance taxes if their liability exceeds Rs. 10,000. However, under Section 234C, interest is charged for a full three-month period until the next installment date, which can be particularly unfair for certain groups, such as gig workers. This has raised
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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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