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www.plannprogress.com has crossed                   300,000   PAGE VIEWS  THANK ALL READERS ,WELL WISHERS  WHO HAVE HELPED US TO REACH THE MILESTONE BUDGET PROPOSALS FOR FY 2017-18  AFFECTING PERSONAL FINANCE , CLICK HERE  FOR TAX PLANNING FOR  FY 2018-19  , CLICK HERE ​ KEEP YOUR  FINANCIAL RECORDS PROPERLYÂ
Keep the records of all your financial transactions .Money borrowed  from friends , Jewelry inherited / purchased,Gifts received ,wedding expenditures , cash remitted to your account etc can be questioned by IT officers  and can be taxed up to 83% of the value if IT Officer is not satisfied about your explanation . As per amended section 115BBE , an assessing officer can invoke  60 % tax , 15 % surcharge , 3 % cess with an added penalty of 10 %  . To avoid such hefty payment of tax ,keep records of your transactions to enable yourself to explain  sources of funds . 
 The Article on  " TAX PLANNING FOR FY 2017-18  CONTAINS  5 PARTS PART I  : MAJOR CHANGES IN TAX RULES FOR FY 2017-18  CLICK HERE PART 2 : TAX RATES  / SLABS FOR FY 2017-18  CLICK HERE   PART 3 :  TAX REBATES   FOR FY 2017-18  CLICK HERE    PART 4 :  ESTIMATE YOUR INCOME TAX / ADVANCE TAX FOR FY 2017-18                           READ THIS PART BELOW ​PART 5 : TAX ON RETIREMENT BENEFITS   CLICK HERE     ADVT
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 ESTIMATE AND PAY ADVANCE  TAXÂ
Under Section 208 of Income-tax Act, every assessee is required to pay advance tax if the tax liability for the previous year exceeds ten thousand rupees. The  Tax payable during the financial year itself is called Advance Tax . For individuals with salary as  sole source of income , TDS  is to deducted by the employer during disbursal of salary  and hence question of paying advance tax separately may not arise. Â
DUE DATE SCHEDULE FOR BOTH INDIVIDUALS AND Â CORPORATESÂ
DUE DATE SCHEDULE FOR BOTH INDIVIDUALS AND Â CORPORATESÂ
DUE DATE |
ADVANCE TAX PAYABLE |
Before 15th June  17 |
15% of advance tax |
​Before 15th Sept 17 |
​45% of advance tax |
​Before 15th Dec  17 |
​75% of advance tax |
​Before 15th March2018 |
​100 % of advance tax |
​Â
 A Resident senior Citizen is exempted  for  paying advance tax  , if he has  no income from business or profession .   He can discharge his tax liability  by paying self assessment tax .Â
For calculating Advance tax Payable  , CLICK HERE
VERIFY YOUR TAX CREDITÂ
Your employer or your banker would have deducted income tax from your salary / interest etc  and remitted to Income Tax Department . You could have also paid tax directly . Whether such amounts have gone to your account only ?   Whether  there was any error  from TDS payers while remitting ? You can verify yourself  on line whether all the amounts deducted have gone to your account only .  There are two methods . One method is to register at  TRACES  (  TDS Analysis and Correction Enabling System )  and you can view your tax credit form 26AS since assessment year 2009-10 .   The other method is to get by your Income Tax  e- filing website https://incometaxindiaefiling.gov.in . if you have not registered  there , you can register and view your tax credits . .
If you find any discrepancies  in your tax credits , you can contact the  TDS  Deductors , find the reasons and  get it rectified .  This step will save  you in future  in  avoiding unnecessary tax demands from the department .Â
If you find any discrepancies  in your tax credits , you can contact the  TDS  Deductors , find the reasons and  get it rectified .  This step will save  you in future  in  avoiding unnecessary tax demands from the department .Â
FILING OF INCOME TAX RETURNSÂ
Income  Tax returns can be filed on line . For  further details visit  IT RETURNS  PageÂ
 For Tax on Retirement  Benefits  CLICK HEREÂ
The Article on  " TAX PLANNING FOR FY 2017-18  CONTAINS  5 PARTSÂ
PART I Â : MAJOR CHANGES IN TAX RULES FOR FY 2017-18 Â CLICK HEREÂ
PART 2 : TAX RATES Â / SLABS FOR FY 2017-18 Â CLICK HEREÂ Â Â
PART 3 : Â TAX REBATES Â Â FOR FY 2017-18 Â CLICK HERE Â Â Â
PART 4 : Â ESTIMATE YOUR INCOME TAX /ADVANCE TAX FOR FY 2017-18
              READ THE  ABOVE PARTÂ
​PART 5 : TAX ON RETIREMENT BENEFITS  CLICK HERE     Â
PART I Â : MAJOR CHANGES IN TAX RULES FOR FY 2017-18 Â CLICK HEREÂ
PART 2 : TAX RATES Â / SLABS FOR FY 2017-18 Â CLICK HEREÂ Â Â
PART 3 : Â TAX REBATES Â Â FOR FY 2017-18 Â CLICK HERE Â Â Â
PART 4 : Â ESTIMATE YOUR INCOME TAX /ADVANCE TAX FOR FY 2017-18
              READ THE  ABOVE PARTÂ
​PART 5 : TAX ON RETIREMENT BENEFITS  CLICK HERE     Â
​FOR DETAILS ON AAYKAR SETHU ,
NEW MOBILE APPLICATION FROM INCOME TAX DEPT , CLICK HERE                                           Â
                                    NEW  ARTICLES ON  Â
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SMALL FINANCE BANKSÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â PAYMENT Â BANKS Â Â Â
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UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
BHIM APPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â AADHARÂ Â
e-INSURANCE Â Account ( Â eIA Â )
NEW MOBILE APPLICATION FROM INCOME TAX DEPT , CLICK HERE                                           Â
                                    NEW  ARTICLES ON  Â
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SMALL FINANCE BANKSÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â PAYMENT Â BANKS Â Â Â
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UNIFIED Â PAYMENT INTERFACEÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â BHARAT BILL PAYMENT SYSTEMÂ Â Â
BHIM APPÂ Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â AADHARÂ Â
e-INSURANCE Â Account ( Â eIA Â )