Pay Advance Tax if your tax liability is more than Rs. 10000/-

Home Forums Smart Things to Know Pay Advance Tax if your tax liability is more than Rs. 10000/-

Tagged: 

This topic contains 0 replies, has 1 voice, and was last updated by ajshdelhi ajshdelhi 2 weeks, 6 days ago.

  • Author
    Posts
  • #6561

    CA
    Keymaster

    The taxpayers are required to pay Advance Tax, if the income tax liability is more than Rs.10,000/- in a financial year. Such tax to be paid in 4 instalments during the year itself rather than paying this tax at the end of the year. For the financial year 2016-17 (1.4.2016 to 31.3.2017), the due dates are 15th June 2016 (15% of estimated tax), 15th September 2016 (30% of estimated tax), 15th December 2016 (30% of estimated tax) and 15th March 2017 (25% of estimated tax).

    In case of any question, do feel free to submit your query.

You must be logged in to reply to this topic.