PROVISIONS RELATING TO PAYMENT OF ADVANCE TAX For A/y 2017-18
Liability to pay advance tax:
Every person whose estimated Income Tax liability for the year is Rs. 10,000 or more ,shall pay I.tax in advance, in the form of Advance Tax.
Individual of the age of 60 years or above, not having any income from business or profession are not liable to pay Advance Tax.
Due Date. Rate. C.Rates
1) 15th June 15% 15%
2} 15th Sep. 30% 45%
3} 15th Dec. 30% 75%
4} 15th Mar. 25% 100%
- It includes Ind. & Huf
Assessees covered u/s 44AD are to pay advance tax in one installment on or before 15th March.
(Courtesy: CA Nandkishor Sharma, Jaipur – via WhatsApp)
08-Mar-2017 | 08:36 Hours IST