⬛ Every Non Resident Indian whose net tax liability on the estimated income exceeds INR 10000 for the financial year shall be required to deposit advance tax.
⬛ The deposit of tax shall be in four instalments on the estimated net tax liability (after reducing taxes deposited/deducted/collected) which is calculated on the estimated income (after reducing deductions available under sec. 80C, 80D, etc.)
⬛ As per the Act, 100% of the estimated tax liability of the financial year shall be deposited by March 15 , 2024.
⬛ Additional interest of 1% per month shall be levied under section 234C on the net tax liability on delay in payment of the tax.
⬛ Deposit advance tax timely not only to avoid interest implications, but also to become a responsible & proud Indian. 🇮🇳
NRI Services
Ashutosh Financial Services Pvt. Ltd.
www.ashutoshfinserv.com
Mobile: +91 72288 48181/ +91 70435 93388
Email: nris1@ashutoshfinserv.com
Follow us using Ashutosh_NRI_FinTax at Facebook, Instagram, YouTube, Twitter & LinkedIn to receive all the latest information from finance world.
