TaxTMI 
TaxTMI 
Advance tax in respect of fringe benefits
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....benefits calculated in the manner laid down in sub-section (2). 1[(2) Advance tax on the current fringe benefits shall be payable by- (a) all the companies, who are liable to pay the same in four instalments during each financial year and the due date of each instalment and the amount of such instalment shall be as specified in Table I below : Table I Due date of instalment Amount payable On....
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....I below : Table II Due date of instalment Amount payable On or before the 15th September Not less than thirty per cent of such advance tax. On or before the 15th December Not less than sixty per cent of such advance tax as reduced by the amount, if any, paid in the earlier instalment. On or before the 15th March The whole amount of such advance tax as reduced by the amount or amounts, if ....
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....n amount by which the advance tax paid on or before the 15th December of the financial year falls short of seventy-five per cent of the advance tax payable; and (iv) one per cent on an amount by which the advance tax paid on or before the 15th March of the financial year falls short of the hundred per cent of the advance tax payable. (4) Where an assessee, being a person other than a company, ha....
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....f the advance tax payable. (5) Where an assessee has failed to pay the advance tax payable by him during a financial year or where the advance tax paid by him is less than ninety per cent of the tax assessed under section 115WE or section 115WF or section 115WG, the assessee shall be liable to pay simple interest at the rate of one per cent per month, for every month or part of a month comprised ....