Answer-Which of the following statements is correct?

Question

Which of the following statements is correct?

A When the advance tax liability of the assessee is ₹30,000 or more, the assessee should pay such tax in the previous year itself within the due date.

B When the advance tax liability of the assessee is ₹10,000 or more, the assessee should pay such tax in the previous year itself within the due date.

C When the advance tax liability of the assessee is ₹5,000 or more, the assessee should pay such tax in the previous year itself within the due date.

D When the advance tax liability of the assessee is ₹50,000 or more, the assessee should pay such tax in the previous year itself before 31 March of the respective year.

Practice Next