Tag: Advance tax
Article F&Q Income Tax Latest Tax News & Updates

Is a Resident senior citizen granted exemption from payment of advance tax (Income tax)? ||Advance Tax on Senior Citizen

Advocate Birbal SharmaComment(1)

Payment of advance tax on Senior Citizen Payment of advance tax–As per section 208 of Income Tax Act, every person whose estimated tax liability for the year is 10,000 Rupees. or more, shall pay his tax in advance, in the form of “advance tax“. However, section 207 of income tax act gives relief from payment of advance tax […]
Article Income Tax Latest Tax News & Updates Tax Article

Article on Provision of Payment Advance Tax as Per Chapter XVII-C | Provision of Payment Advance Tax | Payment of Advance Tax as per Income tax Act |Due Dates of payment Advance

Advocate Birbal SharmaComment(0)

Provision of Payment Advance Tax as per Income Tax Provision of Payment Advance Tax Advance tax means income tax should be paid inadvance instead of lump sum payment at year end. Advance Tax payments have to be made in installments as per due dates provided in Section 211 of Income tax act.