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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

As per Section 208 of the Income Tax Act, 1961, an assessee is obligatory to pay advance tax if the estimated tax liability for the year is Rs. 10,000 or more.

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