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Source: Live Mint With financial year 2024-25 soon coming to an end, only three weeks are remaining before the taxpayers can invest in the tax-saving instruments such as PPF, NSC, KVP, SSY and SCSS. Taxpayers who wish to claim income tax deduction must invest in these instruments before March 31. Where can taxpayers invest to…
Source: Live Mint As the third installment of advance tax is due on December 15, taxpayers are reminded of the importance of adhering to this deadline to stay compliant and avoid penalties. Advance tax, often referred to as the “pay-as-you-earn” tax, is a requirement for individuals and businesses whose tax liability for the financial year…
Source: Live Mint The deadline for the third instalment of advance tax is December 15, 2024. Taxpayers must pay the advance tax before the due date to avoid penalty. What is advance tax? Advance tax is a part of income tax that is paid in instalments at different deadlines rather than paying the entire amount…
Source: Live Mint The term “advance tax” describes the portion of income tax that must be paid in instalments by the deadlines rather than all at once. Both individuals and businesses must pay income tax in advance in recurring instalments rather than in one lump sum. If taxpayers’ income tax liability exceeds ₹10,000, they must…
Source: Live Mint Advance tax payment: The deadline to make your advance tax payment is fast approaching — in only three days, on December 15. So, what happens if you fail to pay tax by deadline? You could be liable for penalties and interest for delay. Thus, we bring you all you need to know…
