https://www.taxtmi.com/manuals?id=1369 Advance tax is computed by estimating the current year's income, computing tax at rates in force, adding applicable surcharge and health and education cess, allowing specified reliefs, and deducting allowable carryforward tax credits and tax deductible or collectible at source actually deducted/collected; the balance above the statutory threshold is payable in installments. TDS/TCS not actually deducted or collected cannot be reduced from advance tax. For AO determination, current income is the higher of the latest assessed year's total income or the total income returned for any subsequent year, and tax so computed is reduced by expected TDS/TCS to arrive at advance tax. en-us Fri, 01 Jan 2016 15:51:00 +0530 Fri, 05 Jul 2024 17:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1369 Advance tax is computed by estimating the current year's income, computing tax at rates in force, adding applicable surcharge and health and education cess, allowing specified reliefs, and deducting allowable carryforward tax credits and tax deductible or collectible at source actually deducted/collected; the balance above the statutory threshold is payable in installments. TDS/TCS not actually deducted or collected cannot be reduced from advance tax. For AO determination, current income is the higher of the latest assessed year's total income or the total income returned for any subsequent year, and tax so computed is reduced by expected TDS/TCS to arrive at advance tax. Manuals Income Tax Fri, 01 Jan 2016 15:51:00 +0530 https://www.taxtmi.com/manuals?id=1369