Pay Your Advance Tax for F.Y. 2017-18 if not already paid by 31st March, 2018 with interest and avoid payment of excess interest on Self Assessment Tax later on

Taxpayers liable to pay Advance Tax

  • Any assessee, including salaried employee, whose tax liability for the financial year as reduced by the tax deducted/ collected at source is Rs. 10,000/- or more
  • Assessee in respect of eligible business referred to in Section 44AD is liable to pay whole amount of such Advance Tax on or before 15th March of respective Financial Year

(Resident Senior Citizen (individual who is of the age of 60 years or more) not having income from business/profession Is not liable to pay]

Mode of Payment

  • e-payment is mandatory for all Corporates and also those assessees whose accounts are required to be audited u/s 44 A8 of the Income-tax Act
  • e-payment is convenient for other taxpayers also as it ensures correct credit

More Under Income Tax

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Category : Income Tax (26752)
Type : News (13422)
Tags : income tax (45)

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