12.3. Advance Tax

Question 1

Sec 207, 208

Answer 1

Every person is liable to pay advance tax except

• advance tax payable is less than 10,000
• advance tax not applicable to Resident senior citizen if doesnot have PGBP

Question 2

Calulating Advance tax

Answer 2

Advance tax= total tax- TDS- TCS

Question 3

211

Answer 3

Time limit all assessee except 44AD,
44ADA
- 15th June - 15%
-15th Sept - 45%
- 15th Dec - 75%
-15th march -100%

Assesses under 44AD, 44ADA - 100% on March 15th