| Installment | Due Date | Amount Payable |
|---|---|---|
| 1st | On or before June 15 | At least 15% of the tax due |
| 2nd | On or before September 15 | At least 45% of the tax due |
| 3rd | On or before December 15 | At least 75% of the tax due |
| 4th | On or before March 15 (yearly end) | 100% of the tax liability |
Advance tax is a system in which taxpayers are required to pay their taxes in advance instead of paying the entire tax liability at the end of the year. It is applicable to individuals, salaried employees, and businesses with a certain level of income.
Manisha Mohol and Associates provides advance tax compliance services to its clients to ensure timely and accurate payment of taxes. Our services include:
- Calculation of Advance Tax Liability: We calculate the estimated advance tax liability for our clients based on their projected income for the financial year.
- Timely Payment of Advance Tax: We ensure that our clients make timely and accurate payment of advance tax to avoid interest and penalty charges.
- Filing of Advance Tax Returns: We assist our clients in filing the quarterly advance tax returns and also help them in adjusting any excess or short payment of advance tax in the subsequent quarters.
- Compliance with Statutory Requirements: We ensure that our clients comply with all the statutory requirements related to advance tax payment, including the filing of the advance tax returns and payment of taxes within the due dates.
- Advisory Services: We also provide our clients with advisory services related to advance tax, such as the impact of changes in tax laws on their tax liability and tax planning strategies to optimize their advance tax payments.
At Manisha Mohol and Associates, we understand the importance of timely and accurate advance tax compliance for our clients. Our team of experienced professionals is equipped to handle all aspects of advance tax compliance, ensuring that our clients remain compliant with the tax laws and avoid any penalties or interest charges.