advance tax

156 views 2 replies

Rahul Chhabadia

168 Points Joined November 2017

Those who are eligible for advance tax payment it means that they have to pay their normal tax in 139(1) and then advance tax also in the previous year??

Replies (2)

Advance tax is paid as part of normal tax. Actually the idea is that atleast 90% of the normal tax should be paid by 31st Mar of FY to avoid 234B interest. And to avoid any of 234C interest 100% of normal tax should be paid as advance tax by 15th Mar of FY.