Advance tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 February 2015 How to Calculate the Advance Tax of an Individual who is a director of a company. Whether the Individual Accounts has to be kept separate. How the Co's Account and Individual Accounts are maintained?.Which return has to be submitted for the same.

c.bakshi

c.bakshi (Expert)
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20 February 2015 company is a separate legal entity and director if is a executive director then return of salary needs to be filed. along with holding the position of director, if such person is running a business too then itr-4 is best in all the circumstances

Rupesh Jain

Rupesh Jain (Expert)
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20 February 2015 for director and otherincome of the director of company will consider jointly and calculate the tax if net tax liability after tds is morethan rs. 10000/- then pay the advance tax
if your business income of director file return in ITR-4.

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