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      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. Correct Answer Incorrect Answer
      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. Correct Answer Incorrect Answer
      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. Correct Answer Incorrect Answer
      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. Correct Answer Incorrect Answer

      Solution

      The correct answer is B

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