Tuesday, 18 March 2014

How is advance tax calculated and paid?

  1. How is advance tax calculated and paid?
It is paid in installments. The amount payable is to be calculated in the following manner:
Status
By 15th June
By 15th Sept
15th Dec
15th March
Corporate
15%
45%
75%
100%
Non-Corporate
nil
30%
60%
100%

The deposit of advance tax is made through challan by ticking the relevant column.

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