What is the Ist instalment of Advance tax (FY 2018-19)
1) Salaried bank employees (my wife)
2) Professional consultant (self )
4 Replies
Rahul Prajapati
(Student)
(2282 Points)
Replied 12 June 2018
| Due Date of Installment | Amount Payable |
|---|---|
| On or before 15th June | 15% of the Advance Tax |
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 12 June 2018
1. For Salaried person, no need to pay advance tax.
2. For other if tax payable is more than 10000, then pay advance tax in four installement. Due date is mentioned above by Mr. Rahul.
2. For other if tax payable is more than 10000, then pay advance tax in four installement. Due date is mentioned above by Mr. Rahul.
Rahul Prajapati
(Student)
(2282 Points)
Replied 12 June 2018
As per my view,
Advance Tax is payable by Salaried Employees also, if
The difference between actual tax liability on Salary and TDS (Tax Deduction at Source) is more than Rs 10,000.
Rahul Prajapati
(Student)
(2282 Points)
Replied 12 June 2018
Also, make sure that she does not have income from other sources like Interest from Bank FD, Investment Income. The advance tax is definitely payable even by salaried employees on their other income.
Recent Topics
- Reporting in gstr9 of ITC of Previous year reverse
- Tax on Reimbursement of House Rent
- MAHARASHTRA CHARITY COMMISSIONER WEBSITE
- Explanation 3 to section 11(1) read with section 4
- Ammendment in Partnership On Death of Partner and
- TDS Provisions applicability Tax Audit Individual
- NAME CHANGE OF HUF
- Advisory for Reporting TDS Deducted by scrap Deale
- Section 194 J Technical Service/Professional Servi
- Solving of Export Related Problems
Related Threads
CAclubindia
