As per section 208, every person whose estimated tax liability for the year is Rs. 10,000 or more, shall pay his tax in advance, in the form of “advance tax”. However, section 207 gives relief from payment of advance tax to a resident senior citizen. As per section 207 a resident senior citizen (i.e., an …
Is A Resident Senior Citizen Exempt From Payment Of Advance Tax? Read More »
Following are not required to pay Advance Tax: (1.) A resident senior citizen (i.e., an individual of the age of 60 years or above during the financial year) not having any income from business or profession is not liable to pay advance tax. (2.) Taxpayer who opted for presumptive taxation scheme of section 44AD or …
Advance tax collection has increased by 41 percent in the current financial year in the country. With this, the tax collection from personal and corporate income has increased by more than 48 percent in the current financial year. This explains the continuous economic recovery in the economy affected by the corona virus epidemic. According to …
Advance Tax Due Dates 1. Advance Tax Due Dates for Individuals and Corporate Taxpayers Due Date of Instalment Amount of Advance Tax Payable On or before 15th June 15% of Advance Tax On or before 15th September 45% of Advance Tax minus the previous instalment On or before 15th December 75% of Advance Tax minus …
Today is the last Date for Advance Tax; How to calculate & Steps for payment Read More »
Education is the bedrock of growth of our nation.Your taxes make education accessible for all!Do remember to pay your second installment of Advance Tax by 15th September, 2021.
Today we will discuss on basics of Advance tax concept under direct tax. Advance tax means income tax should be paid in advance instead of lump sum payment at year end. It is also known as pay as you earn tax. These payments have to be made in instalments as per due dates provided by the …
Tax Concept – Did you know basics of Advance Tax? Read More »
Attention Taxpayers! Today is last date to pay your fourth and final installment of Advance Tax. Pay now to save interest! -ITDEPT Your AdvanceTax plays a pivotal role in shaping the development story of the nation. Let us, together, accelerate the nation building process..Do remember to pay the fourth instalment of your AdvanceTax on or …
Today is last date to pay your fourth and final installment of Advance Tax Read More »