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Question

U/s 208, it is obligatory for an assessee to pay advance tax where the tax payable is

A 10,000 or more Correct Answer Incorrect Answer
B 20,000 or more Correct Answer Incorrect Answer
C 5,000 or more Correct Answer Incorrect Answer
D 8,000 or more Correct Answer Incorrect Answer

Solution

Section 208 of the Income Tax Act, 1961 provides that every person whose estimated tax liability for the year is Rs. 10,000 or more shall pay his tax in advance in the form of "advance tax".

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