Advance tax

kumar (student) (248 Points)

26 March 2020  
Hello everybody

my firm is a start up which is established on 2019 September. since thae day I've never been paid any advance tax till date.
net profit as on date Rs. 1,50,000
preliminary exp amounting to Rs. 4,90,000. Since preliminary expenses have to be amortised in 5 equal installments , I've an assumption my NET PROFIT would be around 50,000 after depreciation.

So my question is about whether I have any liability of advance tax ? or can I pay the tax in full as self-assessment tax ?

thanks..,