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Categories >> Accounting >> Taxation


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 Taxation interview questions  Taxation Interview Questions (1898)
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What is Advance Payment of Tax?

 Question Submitted By :: Taxation
I also faced this Question!!     Answer Posted By  
# 1
All persons including salaried employees and pensioners, in
whose case tax payable during a Financial Year is Rs.
10,000/= or more after adjusting all deductions, rebates &
TDS are required to pay Advance Tax. The rates for payment
of Advance Tax are announced in the Finance Act every year.

For Companies
By 15th June - 15% of Advance Tax
By 15th September- 30%of Advance Tax
By 15th December- 30% of Advance Tax
By 15th March- 25%of Advance Tax
By 31st March - Tax on Capital Gains or Casual Incomes arising
after 15Th March, if any.

For Non-Companies
By 15th June - NIL
By 15th September- 30%of Advance Tax
By 15th December- 30% of Advance Tax
By 15th March- 40%of Advance Tax
By 31st March - Tax on Capital Gains or Casual Incomes arising
after 15Th March, if any.
Is This Answer Correct ?    28 Yes 6 No
# 2
For Co.
15 June-15%
15 Sept-45%
15 Dec.-75%
15 march-100%
in the case of causal income if any income arise after 15
march then it shall be compulsary to deposite the tax upto
31st march.and interest should noy be charge in this income.

FOR Other than co.
15 june-NIl
15 Sept-30%
15 March-100%
Is This Answer Correct ?    13 Yes 5 No
Rakesh Aggarwal

Other Taxation Interview Questions
  Question Asked @ Answers
For getting relief under section 89 which types of documents to be submitted for making form16 DRJ-ARDE 1
I want to know for Financial year 09-10 i.e 01.04.09 to 31.03.2010 what is the Assessment year TATA 9
I made donation which is covered u/s 35 (1)(ii)   3
Assume I paid an advance of Rs 50,000/- from contractor can we deduct TDS on that amount   4
If the total material cost of secondary steel products @ BSL, Jharkhand, is Rs.30 lacs exclusive of VAT @ 4%, ED @ 8.24%, TCS @ 1%, and the buyer is registered under the Company's Act, 1956 in Bihar, and carrys VAT & CST certification but no ED registration, then what would be the proforma of purchase invoice ? And if the Buyer sells the above materials with the conversion charges or profit of Rs.5 lacs within Bihar, what would be the proforma of Sale Invoice ?   1
When tds should be paid to govt.? on provison of particular expense in com's book or after payment is made to party for that particular expense.   1
What are the capital gains exempt from Tax?   2
A company given a party in order promote the company to its customer in a hotel then hotel provide some food & services to the customers of the company. should TDS deducted on payment made to hotel's bill? if payment is near about 35000/-. Goldman-Sachs 2
What is the accounting entry to be posted for TDS if the assess is Firm (or) Company (or) Proprietorship (or) Individual? eg: I (CDE & Co) paid Rs. 1,00,000/- through ICICI Bank after deducting 10% of the amount (Rs. 10,000/-) as TDS (Tax Deducted as Source) to “ABC & Co” (What entry should i pass in "CDE & Co" and "ABC & Co")   1
Whether sales tax is chargeable on imported goods. Voltas 2
What is different in balance sheet & trial Balance sheet ? Provisions entry in ending year ?   1
If i want to pay less tax,which method of depriciation should be adopted?   4
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