pls. tell me....
can a regular salaried person pay adavnce tax in respective instalments i.e. 15th Sept, 15th Dec & 15th March? Is it allowed under IT Act,1961 or not?
thanks in advance.
1 Replies
Devendra
(Chartered Accountant)
(4775 Points)
Replied 26 December 2010
In case of a salaried person, monthly TDS is deducted by the employer if the income of the salaried person exceeds the basic exemption limit. So here there is no question of payment Advance Tax.
Regards,
Devendra Kulkarni
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