Advance Tax

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Querist : Anonymous (Querist)
18 May 2010 is advance tax payment is compulsory for salaried person and tell also the aplicability of Section 234B and 234C in this case if they failed to pay the advance tax

18 May 2010 If Salary is only the source of Income of person, then Employer is liable to deduct Tax Deducted at Source (“TDS”) where he/she is working and hence no need to pay advance tax by a person\employee.

It is province of employer to deduct the TDS from an employee Salary subject to rules/regulation etc as mentioned under the Income-tax Act, 1961.

For your Information:
TDS = Advacne Tax

18 May 2010 What Manish has said is correct. Also, the interest under section 234B and 234C arises only when the advance tax liability is more than Rs.5,000 during your previous year.


18 May 2010 AGREE WITH EXPERTS.



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