Advance Tax Liability

POSTED BY Kalyan Ghosh ON December 5, 2011 5:10 am COMMENTS (2)

Which one is correct,Advance Tax is payable,

1)if Tax Liability exceeds Rs 10000 after TDS
OR
2)if Tax due in a Financial Year exceeds Rs 10000 before TDS.
Please help

2 replies on this article “Advance Tax Liability”

  1. ashal jauhari says:
    December 5, 2011 at 11:27 pm

    Dear kalyan ghosh, if your calculation indicates that even after TDS, the liability of tax is open on you, you are liable to pay advance tax.

    Thanks

    Ashal

    Reply
  2. bemoneyaware says:
    December 5, 2011 at 1:17 pm

    If you estimate that you will owe more than Rs.10,000 on March 31 in taxes (after deducting TDS) then you should pay advance tax.
    For more details you can refer to Advance tax

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.