Adjustment of surcharge paid onadvance tax installemnt

[hubert fernandes]

Income tax surcharge for firms is not applicabe for AY 2010-2011 onwards.whether surcharge paid on advance tax installemnt for AY 10-11 can be adjusted against final installment of advance tax for AY 10-11

[wig sinbad]

yes

[Rama Krishana]

A agree with the view of Mr. wig sinbad. You can adjust the same with the advance tax liability.

AI Summary

Surcharge adjustment on advance tax installment allowed to offset remaining advance tax liability for firms in the relevant assessment year Contributors state that a surcharge paid with an earlier advance tax instalment can be applied against the outstanding advance tax liability, permitting adjustment of the surcharge paid in an earlier instalment against the final instalment of advance tax.