Why we need to pay advance tax? anyway we will pay tax on time, then why we have to pay before the assessment ? please explain. Thanks in advance.
ABHISHEK
(Student)
(412 Points)
Replied 05 September 2013
This provision had been inserted for the big assessee, they earn income and uses for the balance period.
gov demand that while u are earning income deposit the tax at the same time i.e. quarterly.
and one more thing......between the period, if ur income is high ur liquidity will also be high, u can easily deposit the tax
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