What is Advance Payment of Tax?

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What is Advance Payment of Tax? ..

Answer / sanmilan

All persons including salaried employees and pensioners, in
whose case tax payable during a Financial Year is Rs.
10,000/= or more after adjusting all deductions, rebates &
TDS are required to pay Advance Tax. The rates for payment
of Advance Tax are announced in the Finance Act every year.

For Companies
By 15th June - 15% of Advance Tax
By 15th September- 30%of Advance Tax
By 15th December- 30% of Advance Tax
By 15th March- 25%of Advance Tax
By 31st March - Tax on Capital Gains or Casual Incomes arising
after 15Th March, if any.

For Non-Companies
By 15th June - NIL
By 15th September- 30%of Advance Tax
By 15th December- 30% of Advance Tax
By 15th March- 40%of Advance Tax
By 31st March - Tax on Capital Gains or Casual Incomes arising
after 15Th March, if any.

Is This Answer Correct ?    28 Yes 6 No

What is Advance Payment of Tax? ..

Answer / rakesh aggarwal

For Co.
15 June-15%
15 Sept-45%
15 Dec.-75%
15 march-100%
in the case of causal income if any income arise after 15
march then it shall be compulsary to deposite the tax upto
31st march.and interest should noy be charge in this income.

FOR Other than co.
15 june-NIl
15 Sept-30%
15Dec.-60%
15 March-100%

Is This Answer Correct ?    14 Yes 5 No

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