1) Should I calculate Health cess on Tax payable before TDS or after utilizing available TDS credit?
2) In tax challan, payment has been made in Income tax field altogether instead of cess and income tax field. Is tat ok?
5 Replies
Akhil
(Student CA )
(1005 Points)
Replied 31 August 2019
1.edu cess on tax amt after tds
2.no problem
2.no problem
Kapadia Pravin
(17259 Points)
Replied 31 August 2019
1. First calculate Total income
2. calculate tax on total income
3. Add 4% cess
4. Total tax liability including cess
5. Reduce Advance Tax, TDS
6. Balance is S A Tax payable or refund due
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In tax challan , payment has been made under income tax field - it's okay
2. calculate tax on total income
3. Add 4% cess
4. Total tax liability including cess
5. Reduce Advance Tax, TDS
6. Balance is S A Tax payable or refund due
-----------
In tax challan , payment has been made under income tax field - it's okay
Chinmoy Dey
(67 Points)
Replied 31 August 2019
calculate your tax including cess and then deduct TDS and advance tax.. The remaining amount is tax payable or excess is tax refundable , as the case may be.
Shivam RC
(Student)
(23683 Points)
Replied 31 August 2019
Follow Kapadia Sir's advice...
He's absolutely correct
He's absolutely correct
Priya Kashyap
(Student)
(7053 Points)
Replied 03 September 2019
before claiming TDS/advance tax paid apko cess lagana hai computed tax per.
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