What is the procedure for computing advance tax?

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ive taxation scheme under section​ 44AD and section 44ADA is required to pay advance tax related to such business. However, advance tax can be paid during the financial year (immediately preceding to the assessment year) on or before March 15. The computation of advance tax can be done in the following manner: Income from salaries xxx .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Add: Health and Education Cess @4% xxx Total xxx Less: Relief under section 89, 90, 90A or 91 xxx Less: Pre-paid taxes (i.e. advance tax, self -assessment tax, TDS, TCS, MAT/AMT credit) xxx Advance Tax Liability xx .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X