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Advance tax

riddhi (student) (746 Points)

21 June 2016

Advance tax due date for corporate assessee

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CA Harshal Totla (Chartered Accountant) (2229 Points)
Replied 21 June 2016

Section 211(1) is amended to provide that advance tax will be paid in four installments of 15%, 45%, 75% and 100% of tax payable on the current income by 15th June, 15th September, 15th December and 15th March, respectively in case of all assesses. Earlier upto AY 2016-17 the assessee other than corporate assessee paid Advance Tax in three Installment. Now all assessee except assessee covered u/s 44AD is treated at par for Advance Tax provisions.