Advance tax liability arises if total tax liability for the year is more than 10,000
In case of presumptive taxation, full advance tax has to be paid once only before 15 March.
My query is limit of 10,000 also applicable for presumptive taxation or they need to pay full advance tax even if it is below 10,000.
Thanks
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Advance tax payment
Replies (1)
Yes, the limit of Rs. 10000/-applicable here also; i.e. in aggregate tax liability should not exceed 10K.
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