Advance tax
This query is : Resolved
22 July 2014
My total tax liablity for the financial year 2014-2015 is supposed to be less than 10000 (around 4000) after deduction of TDS. But I have deposited advance tax of 1500. Have I done anything wrong? Is that money wasted?
Also if some one finds out his advance tax liablilty is say 10000, can he pay the entire advance tax in the first installment?
Also if some one finds out his advance tax liablilty is say 10000, can he pay the entire advance tax in the first installment?
Guest
Guest
(Expert)
22 July 2014
ya advance payment of tax is allowed dear...so u can do that no probs at all
22 July 2014
No issues. Your money is not wasted. You will get credit of same while filing your income tax return and in case tax paid by you is more than actual tax liability than you will get the refund.
There is no restrictions on payment of advance tax. You can pay any amount any time.
There is no restrictions on payment of advance tax. You can pay any amount any time.
22 July 2014
Thank you for your replies
So I am allowed to pay my entire advance tax due by 15th september itself?
So I am allowed to pay my entire advance tax due by 15th september itself?
22 July 2014
Yes you can pay entire advance tax by 15th September.
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