WebMay 6, 2024 · 2. Create a special account in the company accounting journal. Label it "Customer Deposits" or "Prepaid Sales." You might think a customer deposit would be straight income, but since you "owe" the customer something, it's actually a liability to the business. 3. Relate the advance payment to a customer account.

Interest rebate on advance property tax payment - Times of India

WebMar 15, 2024 · The only advance tax due date deadline applicable to such taxpayers would be 15th March and such taxpayers would be required to pay 100% of their Tax liability by 15th March. Payment of Advance Income Tax is to be made through Challan No. 280 by selecting Advance Tax (100) as the type of payment as shown below:-. WebAug 13, 2024 · The advance tax obligation for this income is triggered from June 2024 and interest is computed from the first instalment of advance tax. While this seems totally unfair, this is the reality," she ... freelance graphic designers in erie pa

How To Get Ahead on Tax Payments for Next Year - The Balance

WebMar 14, 2024 · To pay advance tax online, follow these steps: Go to the Tax Information Network of the Income Tax Department of India website. Select ‘Proceed’ under the CHALLAN NO./ITNS 280 option. Enter the applicable tax amount, payment type, mode of payment, PAN, assessment year, and other details mentioned in the challan. WebAug 10, 2024 · An advance tax payment, paid in four quarterly installments each year, can help those who are self-employed avoid penalties. By paying throughout the year, taxpayers are accomplishing the same ... WebJan 12, 2024 · Not less than 15% of advance tax liability. On or before 15th September. Not less than 45% of advance tax liability, as reduced by the amount, if any, paid in the earlier installment. On or before 15th December. Not less than 75% of advance tax liability, as reduced by the amount or amounts, if any, paid in the earlier installment or installments. blue emoji with hearts