What should I do on receiving the notice from income-tax department for the payment of advance tax, if my actual income is more than what is determined by the tax officer? ​

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, TANYA 5 months 1 Answer 97 views 0

Answer ( 1 )

  1. Assessing Officer can serve an order requiring the assesse to pay advance tax, if he is of the opinion that such person is liable to pay advance tax.

    – However, if you feel that year advance tax liability is lower than the liability calculated by the income-tax officer; you may file an estimation of the income and amount of tax payable thereon

    – Such information should be submitted in Form No. 28A to the Assessing Officer

    – ​ Alternatively, In case the tax demand calculated by the Income-tax officer is lower than the tax liability computed by you, you should pay the advance tax as per your own computation.

    – No intimation to Income-tax officer is required to be made in such cases.

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