How to Computation Advance Tax For First Quarter
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Answer / Sachin Sharma
To calculate Advance Tax for the first quarter, follow these steps:
1. Identify your taxable income for the financial year.
2. Calculate your total tax liability based on the slab rates provided by the Income Tax Department.
3. Divide your total tax liability by three (as there are four quarters in a financial year).
4. Pay this amount as Advance Tax by the due dates specified by the Income Tax Department.
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