New IFSCA Grade A 2024: Decoding Phase 2 Paper 2 Syllabus!
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Question

  On or before 15th December, how much advance tax liability must have been deposited?

A Not less than 15% Correct Answer Incorrect Answer
B Not less than 25% Correct Answer Incorrect Answer
C Not less than 45% Correct Answer Incorrect Answer
D Not less than 50% Correct Answer Incorrect Answer
E Not less than 75% Correct Answer Incorrect Answer

Solution

Due Dates for Payment of Advance Tax (Section 211):  The Advance Tax shall be paid by the Individuals and Corporate Tax Payers  other than tax Payers Who have opted for Presumption taxation scheme for Business (Covered u/s 44AD)  on or before the following Due Dates: Due Date for Payment of Advance Tax Advance Tax Payable On or Before 15th June 15% of Tax Payable On or Before 15th September 45% of Tax Payable On or Before 15th December 75% of Tax Payable On or Before 15th March 100% of Tax Payable

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