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Advance tax

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(Querist)
28 November 2017 What is advance tax? In which case the liability to pay advance tax arise.?
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
28 November 2017 Advance tax is advance estimation of tax payable by an assessee during a FY based on income estimates of that year minus all eligible deductions. Advance tax liability arises if tax payable is more than Rs, 10000/-.
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sangeeta

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sangeeta (Querist)
28 November 2017
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