Advance Tax liabilty

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Presentation on ADVANCE TAX

• BY CA POOJA GUPTAB.com, ACA,ACSMobile No
  7838968100
• Address 1X06, First Floor, ILD Trade Centre,
  Sohna Road, Gurgaon-122001

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Meaning of advance tax
Assessee is required to pay the tax during the
course of earning of income through such income
is chargeable to tax in the immediately
succeeding year.
Pay as you earn
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When the liability to pay the advance tax arise
Resident Individual age of 60 Year or more
Income not chargeable under the head of PGBP
No need to pay the Advance tax
Condition
Resident Individual age of 60 Year or more
Other
Other
Amount of Advance tax is 10,000 or more
CA POOJA GUPTA 7838968100
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Amount of advance tax-Section 209
Particular Amount
Tax on the Total Income xxxxxx
Add Surcharge if applicable and EC SHEC_at_ 3 xxxxxx
Less Releif u/s 89,90, 90A 91 xxxxxx
Less MAT or AMT Credit xxxxxx
Less TDS and TCS xxxxxx
Amount of Advance Tax xxxxxx
CA POOJA GUPTA 7838968100
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Section 201
On his own accord
Payment of Advance Tax
Order or Amended order of A.O.
CA POOJA GUPTA 7838968100
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Payment of Advance Tax On his own accord
Mandatory liability if liable to pay
Pay on or before each of the due date at
appropriate percentage specified in section 211
Calculate in the manner specified section 209
CA POOJA GUPTA 7838968100
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Installments of advance tax-Section 211
15
15 June
45-Amount already paid
15 September
Company Assessee
75 - Amount already paid
15 December
Whole amount
15 March
Amount paid by way of Advance tax on or before
31st March shall be treated as Advance Tax.
CA POOJA GUPTA 7838968100
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Installments of advance tax-section 211
30
15 September
Non company Assessee
60 - Amount already paid
15 December
Whole amount
15 March
Amount paid by way if advance tax on or before
31st March shall be treated as advance tax.
CA POOJA GUPTA 7838968100
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Condition of Order or amended order of assessing
officer
CA POOJA GUPTA 7838968100
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Computation of advance tax by the A.O.
Advance tax on the income higher of followings
Total income of the latest P.Y. in respect of
which assessee has been assessed by way of
regular assessment
Total Income returned by the assessee for any
P.Y. subsequent to the P.Y. for which regular
assessment has been made
CA POOJA GUPTA 7838968100
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Interest for deferment of advance tax-section 234C
Circumstances in which the interest is payable u/s 234C Rate of Interest Period Amount on which interest is to be paid
Advance tax paid on or before 15th September is less than 30 of tax due on returned income 1 P.M. 3 Months 30 of tax due on returned income advance tax paid upto 15th September
Advance tax paid on or before 15th December is less than 60 of tax due on returned income 1 P.M. 3 Months 60 of tax due on returned income advance tax paid upto 15th December
Advance tax paid on or before 15th March is less than 100 of tax due on returned income 1 P.M. 1 Months 100 of tax due on returned income advance tax paid upto 15th March
CA POOJA GUPTA 7838968100
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Proviso to section 234C
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Section 234B
CA POOJA GUPTA 7838968100