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ESTIMATE YOUR INCOME TAX FOR FY 2018-19
ESTIMATE INCOME TAX LIABILITY Estimate your Income Tax liability in simple steps explained on this page
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The Article on " TAX PLANNING FOR FY 2018-19 CONTAINS 5 PARTS PART I: MAJOR CHANGES IN TAX RULES FOR FY 2018-19 CLICK HERE PART 2: TAX RATES / SLABS FOR FY 2018-19 CLICK HERE PART 3: TAX REBATES FOR FY 2018-19 CLICK HERE PART 4: ESTIMATE YOUR INCOME TAX / ADVANCE TAX FOR FY 2018-19 READ THIS PART BELOW PART 5: TAX ON RETIREMENT BENEFITS CLICK HERE ADVT
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ESTIMATE AND PAY ADVANCE TAX
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.
DUE DATE SCHEDULE FOR BOTH INDIVIDUALS AND CORPORATES
DUE DATE SCHEDULE FOR BOTH INDIVIDUALS AND CORPORATES
DUE DATE |
ADVANCE TAX PAYABLE |
Before 15th June 18 |
15% of advance tax |
Before 15th Sept 18 |
45% of advance tax |
Before 15th Dec 18 |
75% of advance tax |
Before 15th March2019 |
100 % of advance tax |
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 .
For calculating Advance tax Payable , CLICK HERE
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 .
For calculating Advance tax Payable , CLICK HERE
VERIFY YOUR TAX CREDIT
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 .
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 .
FILING OF INCOME TAX RETURNS
Income Tax returns can be filed on line . For further details visit IT RETURNS Page
For Tax on Retirement Benefits CLICK HERE
The Article on " TAX PLANNING FOR FY 2018-19 CONTAINS 5 PARTS
PART I : MAJOR CHANGES IN TAX RULES FOR FY 2018-19 CLICK HERE
PART 2 : TAX RATES / SLABS FOR FY 2018-19 CLICK HERE
PART 3 : TAX REBATES FOR FY 2018-19 CLICK HERE
PART 4 : ESTIMATE YOUR INCOME TAX / ADVANCE TAX FOR FY 2018-19 READ THE ABOVE PART
PART 5 : TAX ON RETIREMENT BENEFITS CLICK HERE
PART I : MAJOR CHANGES IN TAX RULES FOR FY 2018-19 CLICK HERE
PART 2 : TAX RATES / SLABS FOR FY 2018-19 CLICK HERE
PART 3 : TAX REBATES FOR FY 2018-19 CLICK HERE
PART 4 : ESTIMATE YOUR INCOME TAX / ADVANCE TAX FOR FY 2018-19 READ THE ABOVE PART
PART 5 : TAX ON RETIREMENT BENEFITS CLICK HERE
FOR DETAILS ON AAYKAR SETHU ,
NEW MOBILE APPLICATION FROM INCOME TAX DEPT , CLICK HERE
NEW ARTICLES ON
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UNIFIED PAYMENT INTERFACE BHARAT BILL PAYMENT SYSTEM
BHIM APP AADHAR
e-INSURANCE Account ( eIA )
NEW MOBILE APPLICATION FROM INCOME TAX DEPT , CLICK HERE
NEW ARTICLES ON
SMALL FINANCE BANKS PAYMENT BANKS
UNIFIED PAYMENT INTERFACE BHARAT BILL PAYMENT SYSTEM
BHIM APP AADHAR
e-INSURANCE Account ( eIA )
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TOOL TO AVOID MARKET HICCUPS
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