I want to know the concept of Advance tax. How to calculate it.when to deposit it and other basic terms regarding the concept. I shall be heartly thankful for the help. and plz recomend me some book that will provide the knowledge of Income tax.
11 June 2010
Agreed with mr. Ramesh . Also, Advance tax is paid on the estimation of the Income you will earn during the year and is paid before the end of the Financial Year i.e 31st March. It is just that tax on the current year income is need to be paid in the same finacial Year if the total tax liability increase Rs 5,000 in a given year.
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