A person who has not paid advance tax during p.y. now in the month of june wishes to pay a lumpsum amount as income tax does he needs to pay under 100 i.e. Adbance tax or 300 i.e. self assessment tax?
Thanking you
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Advance tax or S.A.Tax
Replies (2)
Advance tax(100)
You need to pay income tax for the previous year. as self assessment tax (300) after the end of previous year.
If the same is paid within the previous year then it should be paid as advance tax (100).
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