Calculation of advance tax in breif with an example

This query is : Resolved

KIRAN S.BANARSE (Querist)
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20 March 2014 Respected sir /madam

I realy confused about advance tax calculation advance tax payment made on which basis please tell me with an example .

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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21 March 2014 1. Compute estimated total income for the year.

2. Compute the tax thereon.

3. From the tax computed above reduce TDS and relief u/s 89, 90, 91.

4. The balance amount is the advance tax to be paid.

5. The advance tax is to be paid in installments.

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