June 19, 2024

All About Advance Tax, TDS And Exemption From Earnings Tax By Suvigya Jain Singhi



It’s the truth that revenue tax is demanded from the person on the finish one of many monetary 12 months however at occasions revenue tax is deducted from the supply.  That is known as TDS or tax deducted at supply.

TDS is charged on the wage of a person. Additionally it’s charged on revenue amassed via curiosity of any sort.

Furthermore it is usually charged on windfall positive aspects like profitable the lottery. Additionally it is charged on cost of immovable property. TDS can be charged on lease paid to a landlord.

Thus as we are able to see that TDS is relevant to many alternative positive aspects and revenue.Then you’ll file your return and pay revenue tax then this TDS is deducted out of your revenue tax.

Thus TDS is a type of prepayment of tax, which is deducted at supply after which is deducted out of your whole revenue tax as per Suvigya Jain Singhi. 


 Advance tax is  ‘pay as you earn’tax. That implies that as an alternative of paying tax as a lump sum on the finish of the monetary 12 months you’ll be able to pay tax in installments.  Failure to pay advance tax result in penalty. However for this you must submit your all paperwork with

 Additionally you do not need to pay advance tax in case your tax legal responsibility is lower than rupees 10,000.

 There are particular dates on which you must pay Superior tax installments.

For instance you must be as much as 15% of tax on or earlier than 15th June of the earlier 12 months.

Additionally you must pay as much as 45% of Advance tax steadiness liabilitybefore 15 September of the earlier 12 months

It’s a must to pay as much as 75% of   Advance tax steadiness legal responsibility earlier than 15 December of the earlier 12 months.

And at last you must pay as much as hundred % of advance tax legal responsibility earlier than 15 march of the earlier Monetary 12 months.

 Additionally it is essential to notice that the due dates and quantity of Superior tax for each  particular person and Company  tax payers has change into the identical for the reason that monetary 12 months 2016-17 informs Suvigya Jain Singhi.


There are alsocertain investments and expenditures on which you get exemption from revenue tax. You will need to notice that the exemption is just as much as rupees 1.5 lakh

A few of them I’ve said under:


Right here you obtain full tax exemption and in addition an rate of interest of 8.5 % p.a

That is additionally a tax-free funding and also you get greater than 8.5 % p.a however the most funding quantity is 1.5 lakhsp.a

All life insurance coverage premiums you’re paying are exempted from revenue tax

  • ELSS or Fairness Linked Saving Schemes

These are particular mutual funds the place you get tax exemption underneath part 80 c

The principal element of the house mortgage compensation is exempt from revenue tax

Thus we are able to see that there are various methods by which it can save you tax and in addition reap good returns based on Suvigya Jain Singhi.

Leave a Reply

Your email address will not be published. Required fields are marked *