As per the Income Tax Act, taxpayers whose tax liability exceeds Rs 10,000 after TDS/TCS must pay advance tax in installments instead of a lump sum.
The Income Tax Act mandates advance tax payments for individuals whose tax liability exceeds Rs 10,000 after TDS/TCS. These payments must be made in installments, not as a lump sum. This system is designed to streamline tax collection throughout the financial year, ensuring…
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