HI
CAN ANY ONE TELL THAT IS ANY ADVANCE TAX PAID FOR SALARIED PERSON.
Brajesh gautam (student) (232 Points)
05 December 2011HI
CAN ANY ONE TELL THAT IS ANY ADVANCE TAX PAID FOR SALARIED PERSON.
Prakash
(Chartered Accountant)
(560 Points)
Replied 05 December 2011
Not required in many casses
As Employer Has to Deduct TDS and Remit the same to Govt, Otherwise this Expenditure will be disallowed to Employer
And if at all Employer not deducting TDS, though he aware of Provisions, Employee may Voluntarily pay advance tax otherwise at the end he may require to pay interest on Tax Due
If at all Employee has any other Income other than his salary and which he was not informed to his employer, He should be liable to Pay Advance Tax
CA Deepesh Ruhela
(Keen to Learn)
(3271 Points)
Replied 05 December 2011
Dear Brajesh ji,
No advance tax is payable if the total tax liability after reducing the tax deducted at source is less than Rs. 10,000/-.
| Due Date | Amount of Tax |
|---|---|
| 15th September | At least 30% of Tax on total income for the year. |
| 15th December | At least 60% of Tax on total income for the year less advance tax already paid. |
| 15th March | 100% of Tax on total income for the year less advance tax already paid. |
CA PRAVEEN SINGH
(MANAGER ACCOUNTS)
(2277 Points)
Replied 06 December 2011
Not required in many casses
As Employer Has to Deduct TDS and Remit the same to Govt, Otherwise this Expenditure will be disallowed to Employer
And if at all Employer not deducting TDS, though he aware of Provisions, Employee may Voluntarily pay advance tax otherwise at the end he may require to pay interest on Tax Due
If at all Employee has any other Income other than his salary and which he was not informed to his employer, He should be liable to Pay Advance Tax
Right prakash..
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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