Most urgent: advance tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 December 2012 A Partnetship firm which is liable to pay AMT and that also claims deduction under section 80IC i.e. 100% deduction. AMT compute is 5 lakh rs whether Amount is required to be deposited as advance tax of rs 500000*60% OR No Amount is required to be deposited as advance TAX.

Please suggest me ASAP bcz today is last dateof advance tax.

Arun Biyani

Arun Biyani (Expert)
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17 December 2012 the provision of MAT will applicable in this case and advance tax on basis of MAT has to be paid.