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Sunday, January 15, 2017

Advance Tax

 
What is Advance Tax


1 Income tax that needs to be paid in instalments during the year instead of lump sum payment at yearend is known as advance tax or "pay as you earn tax".

2 If the total tax liability of any taxpayer is more than `10,000 in a financial year then he is liable to pay advance tax during the year.

3 Advance tax applies to all tax payers, salaried, freelancers and businessmen. Senior citizens not having any business income are exempt from payment of advance tax.

4 Advance tax is payable in instalments with 15% on or before 15 June, 45% on or before 15 September, 75% on or before 15 December and 100% of needs to be paid on or before 15 March.

5 For individuals with salary as the sole income, advance tax is taken care of by TDS deducted by the employer at the time of crediting salary.







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Invest Rs 1,50,000 and Save Tax upto Rs 46,350 under Section 80C. Get Great Returns by Investing in Best Performing ELSS Funds

Top 4 Tax Saver Mutual Funds for 2017

Best 4 ELSS Mutual Funds to invest in India for 2017

1. DSP BlackRock Tax Saver Fund

2. Invesco India Tax Plan

3. Tata India Tax Savings Fund

4. BNP Paribas Long Term Equity Fund



Invest in Best Performing 2017 Tax Saver Mutual Funds Online

Invest Best Tax Saver Mutual Funds Online

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For further information contact Prajna Capital on 94 8300 8300

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