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[Cites 0, Cited by 0] [Section 115WJ] [Entire Act]

Union of India - Subsection

Section 115WJ(2) in The Income Tax Act, 1961

(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 or before the 15thJune Not less than fifteen per cent of such advance tax.
On or before the 15thSeptember Not less than forty-five per cent of such advance tax asreduced by the amount, if any, paid in the earlier instalment.
On or before the 15thDecember Not less than seventy-five per cent of such advance tax asreduced by the amount or amounts, if any, paid in the earlier instalment orinstalments.
On or before the 15thMarch The whole amount of such advance tax as reduced by theamount or amounts, if any, paid in the earlier instalment or instalments;
(b)all the assesses (other than companies), who are liable to pay the same in three instalments during each financial year and the due date of each instalment and the amount of such instalment shall be as specified in Table II below:
TABLE II
Due date of instalment Amount payable
On or before the 15thSeptember Not less than thirty per cent of such advance tax.
On or before the 15thDecember Not less than sixty per cent of such advance tax asreduced by the amount, if any, paid in the earlier instalment.
On or before the 15thMarch The whole amount of such advance tax as reduced by theamount or amounts, if any, paid in the earlier instalment or instalments.