• SENSEX
    NIFTY 50
Personal Finance

Here's why you should not miss paying advance tax

Updated : August 13, 2018 03:02 PM IST

Taxpayers with taxable income from any source which are not subject to withholding tax or where the taxes are deducted at a lower rate are mandated to pay taxes in advance.
Taxpayers are required to pay advance tax in 4 instalments within the specified due dates if such tax payable is Rs 10000 or more. Senior citizens (60 years or more) who do not have income from business/profession are exempt.
Advance tax payment is a mandatory requirement that facilitates the government to receive the tax revenue on a quarterly basis rather than waiting until the end of the financial year.
Here's why you should not miss paying advance tax
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV