my firm is registered in aug 2019 started operations from Oct 2019 till date my net loss is 1 lakh
shall i pay any advance tax for the dec quarter??
Advance tax means income tax should be paid in advance instead of lump sum payment at year-end. It is also known as pay as you earn tax. These payments have to be made in installments as per due dates provided by the income tax department. If your tax liability for a year after reducing TDS exceeds Rs 10,000, you will be liable for payment of advance tax
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