Advance Tax: Due Dates, Applicability, Procedure, Interest on late payment
Except for few taxpayers, all are required to deposit the tax in advance before the completion of Financial year if the total tax liability is more than Rs. 10,000/-. Failure to deposit before time attracts Interest. In this article, we will cover all the provisions you need to know about Advance Tax : Who Needs to Pay Advance Tax Installment? If the Tax amount for the particular financial year is greater than INR 10,000/- then, the provisions of Advance Tax are applicable to you. For computing Advance Tax, one needs…