How do I know if I have to file quarterly individual estimated tax payments?

How do I know if I have to file quarterly individual estimated tax payments?

Priyanka Trainee Asked on January 10, 2015 in Financial Services.
Add Comment
1 Answer(s)

Firstly, any person/assessee has to pay advance tax only if his estimated tax liability crosses a limit of Rs. 10,000.
Non-Corporate Assessees, such as Individuals, HUFs, Partnership Firms, AOPs, ets. have to pay such tax in 3 installments (i.e., by 15th September, 15th December and 15th March).
Corporate Assessees have to pay such tax in 4 installments (i.e. by 15th June, 15th September, 15th December and 15th March).
The balance/shortfall in any installment can be deposited after 15th March but upto 31st March.

Suveer Sachdeva Financial Analyst Answered on January 13, 2015.
Add Comment

Your Answer

By posting your answer, you agree to the privacy policy and terms of service.