Tag Archives: Advance tax

Advance tax couldn’t be treated as tax paid under PMGKY : Delhi HC

By | March 15, 2018

HIGH COURT OF DELHI Virag Tiwari v. Principal Commissioner of Income-tax SANJIV KHANNA AND MS. PRATHIBA M. SINGH, JJ. WRIT PETITION (CIVIL) NO. 6312 OF 2017 MARCH  12, 2018 Balbir Singh, Sr. Adv. Rajesh Jain and Ms. Rubal Bansal, Advs. for the Petitioner. Zoheb Hossain, Sr. Standing Counselfor the Revenue. ORDER Sanjiv Khanna, J. – The writ petitioner, an advocate by profession and… Read More »

Salary Income -No Interest for defaults in payment of Advance Tax : Supreme Court

By | December 22, 2016

Held The provisions relating to payment of advance tax is contained in Part ‘C’ and interest thereon in Part ‘F’ of Chapter VII of the Act. In cases where receipt is by way of salary, deductions under Section 192 of the Act [i.e TDS ] is required to be made. No question of payment of… Read More »

How to compute and pay advance tax ?

By | November 2, 2016

 Advance tax Income liable for advance tax Advance tax is payable under section 211 of Income tax Act.All income (including capital gains, winnings from lotteries, crossword puzzles, etc.). are taken into account to compute Advance Tax Liability. Who is not required to Pay Advance Tax ? Resident individuals who are over 60 years of age… Read More »

Book on TDS, Advance Tax and Refund 2016 Edition – Vinod K Singhania

By | September 11, 2016

Deduction of Tax at Source with Advance Tax and Refunds as Amended by Finance Act 2016 (English) (Hardcover, Dr Vinod K Singhania) BUY Specifications of Deduction of Tax at Source with Advance Tax and Refunds as Amended by Finance Act 2016 (English) (Hardcover, Dr Vinod K Singhania) BOOK DETAILS Publisher Taxmann Publications (P.) Ltd. ISBN-10… Read More »

Pay Advance Tax Timely

By | June 8, 2016

Pay Advance Tax on your Income When you have to Pay Advance Tax ? In case your tax liability after reducing the amount of TDS exceeds Rs. 10,000/- in a year, you are liable to pay advance tax. What are Advance Tax Due Dates ? As per Changes made by Finance Act 2016 :- Now Whether… Read More »

New Advance tax Provisions of Income tax as per Finance Bill 2016

By | March 3, 2016

Advance Tax as proposed by Finance Bill 2016 Advance Tax Payments date for  Corporate and Non Corporate Assessee (All Assessee’s) The Finance Bill, 2016 now treats the non-corporates at par with corporates by mandating advance tax payments in four instalments viz. 15% of the tax on the returned income, on or before 15th June; 45%… Read More »