Advance tax adjustment with TDS

TDS will definitely adjust ....but you should be concerned about the interest , the company hasn't paid advance tax yet .... the roll of interest will definitely come while filling the return .

Companies have to pay advance tax in four instalments. You will have to calculate the total tax of payment  &  paid on 15Th Jun. ( 15%), 15Th Sep.(45%), 15th Dec.(75%) & 15th Mar.100% .

Admittedly, the Company is required to pay the advance tax in 4 no installments during the financial year itself. But when TDS is deducted during the financial year and is more than the income tax liability of the Company, then no Advance tax is liable to be deposited, Further, no interest would be charged from the assessee.

From:

Dinesh Kumar Goel

 B.com., LL.M.

Naturally, if there is no transaction in jun & sep. means no tax liability will come. & then calculate dec. & march quarters tax. If there is not too much transaction on a very incorporate year of the company, & the tds are also credited with you, better to leave working on for time of finalisation .