Healthy Food for every Citizen, Not a mission impossible – Income Tax Department Ad

Attention Taxpayers
Healthy Food for every Citizen,
Not a mission impossible…

Step forward & let’s make it possible!

Last date to pay your 1st Installment of Advance Tax is 15th June 2017

Which taxpayers are liable to pay Advance Tax
Any assessee, including salaried employee, whose tax liability for the financial year as reduced by the tax deducted / collected at source is Rs. 10000/- or more.

Exempted Category
Resident Senior Citizen (individual who is of the age of 60 years or more) not having income from business / profession is not liable to pay.

Mode of Payment

e-payment is mandatory for all corporate and also those assessees whose accounts are required to be audited u/s 44AB of the Income tax Act.

e-payment is convenient for other taxpayers also as it ensures correct credit.

Schedule for payment of Advance Tax

• On or before 15th June 2017 – 15% of the Advance Tax payable.
• On or before 15th September 2017 – 45% of the Advance Tax payable.
• On or before 15th December 2017 – 75% of the Advance Tax payable.
• On or before 15th March 2018 – 100% of the Advance Tax payable.

Short / Non-payment or deferment of payment of Advance Tax will result in levy of Interest.

Income Tax Department
Central Board of Direct Taxes
www.incometaxindia.gov.in