Income Tax : The 2025 law mandates advance tax on estimated income in four instalments, with limited exemptions for senior citizens and small l...
Income Tax : Understand key provisions of advance tax under the Income Tax Act — who is liable, due dates, revision of estimates, payment pro...
Income Tax : Made a mistake while paying Advance Tax or Self-Assessment Tax? This guide explains how to correct wrong Assessment Year, Head Cod...
Income Tax : Know who is liable to pay advance tax, how to compute it, due dates for instalments, exemptions, and payment methods under the Inc...
Income Tax : A look into why taxpayers face interest charges under Sections 234B and 234C, exploring how Section 210, a provision for official ...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : As of September 17, 2024, direct and advance tax collections show significant growth compared to the previous fiscal year....
Income Tax : Income Tax Department has identified certain inconsistencies in the Statement of Financial Transactions (SFT-17) data related to s...
Income Tax : The Income Tax Department, under the Ministry of Finance, is set to initiate an e-campaign aimed at enhancing taxpayer compliance ...
Income Tax : Advance Tax collections for the F.Y. 2021-22 (Till 3rd Installment) stand at Rs. 4,59,917.10 crore as on 16.12.2021 which shows a ...
Income Tax : ITAT held that the appellate authority wrongly dismissed the appeal under Section 249(4)(b) as there was no advance tax liability ...
Income Tax : ITAT Indore held that Section 249(4)(b) does not apply in reassessment proceedings where no advance tax obligation arises. The dis...
Income Tax : ITAT Raipur held that Section 249(4)(b) applies only where advance tax was legally payable. In absence of taxable income and advan...
Income Tax : The Tribunal held that Section 249(4)(b) does not apply in reassessment where no advance tax liability existed, setting aside dism...
Income Tax : The Tribunal held that advance tax cannot be treated as delayed when the amount is debited from the taxpayer’s bank account on t...
Income Tax : Extension of date of Direct Tax payment in respect of third installment of advance tax for FY 2019-20 Considering the large-scale ...
ITAT held that the appellate authority wrongly dismissed the appeal under Section 249(4)(b) as there was no advance tax liability under Section 209. The matter was remanded for fresh adjudication on merits.
The 2025 law mandates advance tax on estimated income in four instalments, with limited exemptions for senior citizens and small liabilities. Missing deadlines may trigger interest under Sections 424 and 425.
ITAT Indore held that Section 249(4)(b) does not apply in reassessment proceedings where no advance tax obligation arises. The dismissal of appeal without examining merits was set aside and the matter remanded for fresh adjudication.
ITAT Raipur held that Section 249(4)(b) applies only where advance tax was legally payable. In absence of taxable income and advance tax liability, dismissal of appeal was set aside and matter restored for decision on merits.
The Tribunal held that Section 249(4)(b) does not apply in reassessment where no advance tax liability existed, setting aside dismissal of appeal and restoring it for decision on merits.
The Tribunal held that advance tax cannot be treated as delayed when the amount is debited from the taxpayer’s bank account on the due date. Interest under Section 234C was quashed as the delay in challan generation was beyond the assessee’s control.
The Tribunal ruled that inadvertent omission of claiming advance tax does not bar interest under Section 244A. Authorities cannot withdraw interest through Section 154 rectification for such mistakes.
Understand key provisions of advance tax under the Income Tax Act — who is liable, due dates, revision of estimates, payment procedure, capital gains treatment, TDS credit, Form 28A requirements, and computation rules.
Made a mistake while paying Advance Tax or Self-Assessment Tax? This guide explains how to correct wrong Assessment Year, Head Code, or PAN in your Income Tax challan using the e-filing portal — step-by-step.
Know who is liable to pay advance tax, how to compute it, due dates for instalments, exemptions, and payment methods under the Income Tax Act.
