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What is the difference between Advance Tax and TDS?
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Answer Posted / hitesh panchal
Advance Tax is Paid by Assessee itself after estimating
his/her income He /she is liable to pay advance tax only
when his/her liability to pay Income tax is more than Rs.
5,000/- in Financial year and ofcorse, advance tax is to be
paid for cutrrent financial year in periodic installment and
percentage as described by the income tax act 1961
or
TDS is tax deduction at source which is to be deducted by
third party/payee while making payment for job/services
rendered at prescribed rate
| Is This Answer Correct ? | 11 Yes | 4 No |
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