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Advance Tax
It is the income tax paid in the current financial year regarding income to be assessed in subsequent assessment year immediately succeeding the current financial year.
For example
For financial year 206-17
Return is to be filed by 31 st July 2017 / 30 h September 2017(for audit cases)
Income tax paid from 1 st April 2016 to 31 st March 2017 is called advance tax.
What is Self Assessment Tax?
TYPES OF INCOME TAX
How to pay Income Tax/Advance tax?
Same challan 280 is applicable for all three
It can be used for
1.Advance Tax
2, Self Assessment Tax
3, Tax on Regular assessment.
