Advance tax, as the name suggests is the tax which is to be paid in advance by the assessee during each financial year. It is also known as ‘Pay as your Earn’ Tax and is different from the usual income tax. For paying this tax, the assessee has to estimate his income beforehand for the entire financial year and pay the tax accordingly. This Advance tax collection is to ensure that the government is able to collect taxes uniformly throughout the year.
There was exemption on the taxability of dividend income for shareholders till the Assessment Year 2020-21. Accordingly, the companies were liable to pay taxes on such dividend income. Taxability of …
Taxability of Dividend Income: Everything You Need to Know Read More »
Due date for fourth instalment of advance tax for the assessment year 20232-24 is 15th December, 2022. Book your dates now!
Due date for second instalment of advance tax for the assessment year 20232-24 is 15th September, 2022
Due date for first instalment of advance tax for the assessment year 20232-24 is 15th June, 2022
Due date for payment of whole amount of advance tax in respect of assessment year 2022-23 for assessee covered under presumptive scheme of section 44AD / 44ADA is 15th March, 2022
Due date for fourth instalment of advance tax for the assessment year 2022-23 is 15th March, 2022
The due dates for filing of audit report and Income Tax Return for certain category of taxpayers has been extended by CBDT for FY 2020-2021. The same was announced by …
ITR Filing & Income Tax Audit due dates extended (FY 2020-21) Read More »
The due date for third instalment of advance tax for the assessment year 2022-23 is 15th December, 2021.
The due date for first instalment of advance tax for the assessment year 2022-2023 is 15th June, 2021.