advance tax What is Advance Tax? How to Calculate & Pay Advance Tax? Advance Tax means that you are required to pay tax to the government on your income throughout the year as you earn this Income. Who is it applicable for? If in a financial year your total tax liability exceeds Rs 10,000 you will be required to pay Advance Tax. Do remember to include all heads of income calculating Advance Tax. Senior citizens, those who are 60 years or older and do not run a business, are exempt from paying advance tax. Let us point out Tax Deducted at Source (TDS) as a concept. When you receive any income (your salary, Interest Income), many a times, the person paying you will deduct TDS before paying you. If the TDS deducted is more than your tax due, then you may not have to pay advance tax. Salaried Employees: If you work at a company and earn a salary, your employer is ........... Click on download and download complete cs professional advanced tax law file cs professionals advanced tax law notes cs professional notes
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