Advance tax

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14 December 2013 who r liable to pay advance tax

14 December 2013 Those who are having net tax liability (after adjusting the TDS Credit) exceeds Rs 10000/- are liable to pay advance tax.
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14 December 2013 Every assesse, except in case of individuals only those whosr expected tax liablity for current fin year exceeds rs 10000


14 December 2013

CBDT Order U/s 119 Extending Due Date For Paying Advance-tax

The CBDT has issued an Order dated 13.12.2013 under section 119(2)(ia) of the Income-tax Act, 1961 extending the last date of payment of the December Quarter Instalment of Advance Tax for the financial year 2013-14 from 15th December 2013 to 17th December 2013 for all the assessees, Corporate and other than Corporates.


14 December 2013 In case an individual age more than 60 years, having income from Other Sources...ONLY SOURCE OF INCOME....
NOT REQUIRED TO PAY ADVANCE TAX IN TIME..w.e.f. 1.4.2013....Hence section 234 B & 234 C is NOT APPLICABLE



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