How to calculate the advance tax, in case of Properitor Concern? what has to be consider for the same. Pls. explain
Menu
Calculation of advance tax
Replies (1)
You have to estimate your turnover, expenses for the year. A proprietor has to pay Advance tax by 15th Sept(30%), 15the Dec, (another 30%[30+30=60] and rest by March.
By the time you have reached Sept month you have a fair Idea of your profits. You can compare the turnover of last year (till Sept) and see the % increase. Then, estimate the profits after depreciation, add other income(interest, rent etc) and calculate the tax after TDS. Paying regular advance tax saves interest and eases the tension to arrange for funds at the time of filing of returns.
Recent Topics :
- Chhath Puja 2026 Dates Timing Tithi
- Tax Benefit on Second Property
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
Related Topics :
CAclubindia
