Advance tax payment online

• • • • • • • • • What is Advance Tax? As the name suggests, Advance tax means payment of tax in advance. Additionally, it is also called “Pay as you earn” tax since proportionate payment of your total tax liability is to be done quarterly during the financial year. According to Who is liable to Pay Advance Tax? Every person whose tax liability for a financial year is INR 10,000 or more has to pay this tax on an installment basis. To calculate the tax liability, the taxpayer has to consider income from all heads. Exceptions on paying Advance tax A resident individual of age 60 years or more, not having any taxable income under Tax on different Income Heads Income is taxable as per the special rates or Salary For individuals having However, if a salaried person is having income other than salary (for eg. For example, let’s suppose an employee has changed multiple jobs and has taken the benefit of HRA for the computation of TDS under each employer. Here, the employee needs to pay the difference of self-assessment tax in the form of ‘advance tax’ if the TDS deduction is not adequate. House Property An individual is liable to pay advance tax on rental income if the tax liability from rent income is equal to or exceeds INR 10,000. Advance tax liability is reduced by the amount of TDS deducted and deposited by the tenant. Capital Gains Nowadays, a lot of people invest in the stock market and have capital gains. And, indeed, it is difficult to estimate the earnings in advance in ...

• Small business tax prep File yourself or with a small business certified tax professional. • Bookkeeping Let a professional handle your small business’ books. • Payroll Payroll services and support to keep you compliant. • Business formation Form your business and you could get potential tax savings. • Refund Advance is a no-interest loan that is repaid with your tax refund. Apply between Jan. 3, 2023 and Feb. 28, 2023. If approved, a loan will be issued in one of five amounts ($250, $500, $750, $1,250, $3,500). Refund Advance is a loan issued by Pathward, N.A., Member FDIC; it is not your tax refund. The lender, Pathward, N.A., offers you the opportunity to determine if you prequalify to apply for the Refund Advance loan. This means that Pathward will evaluate whether you are eligible to apply based, in part, on your tax situation from last year and certain other eligibility criteria determined by the bank. This offer is not guaranteed, so if your tax situation or other relevant inputs change, your prequalification to apply could change. By going through the prequalification process, you are not applying for the Refund Advance loan; you must still pass the eligibility criteria and submit an application at the time you file your tax return. You first must meet certain eligibility requirements such as e-filing a tax return through a participating H&R Block office, expecting a sufficient refund by the IRS and providing appropriate identification. You then submit an applica...