Voluntary reporting of estimated current income and advance tax liability

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 19thSeptember, 2017 Voluntary reporting of estimated current income and advance tax liability A taxpayer who is liable to discharge part of its tax liability by way of advancetax has to bear additional burden of interest for default of advance tax, in case total advance tax paid for the year falls short of the assessed tax by ten percent or more. This interest is levied as per the prov

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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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