Advance tax

This query is : Resolved

Report Abuse Follow Query Ask a Query

nikhil n vaghasiya ...........

nikhil n vaghasiya ........... (Querist)
Follow

19 March 2014 Who can pay advance tax?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

20 March 2014 1. Every person whose estimated tax liability for the year after reducing TDS EXCEEDS Rs. 10,000 is liable to pay advance tax.

2. However, a senior citizen is NOT required to pay advance tax if he does NOT have business income.

3. An assessee may voluntarily pay advance tax even if he is not liable to oay advance tax.

Message likes : 1 times