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Advance tax is a system of paying tax in advance based on estimated income for the year.
Advance tax is a method of paying a portion of your taxes before the end of the financial year.
It is applicable to individuals, self-employed professionals, and businesses with tax liabilities above a certain threshold.
The purpose of advance tax is to ensure regular inflow of taxes to the government and prevent tax evasion.
Failure t...
No, withholding tax and TDS are not the same.
Withholding tax is a broader term that includes TDS (Tax Deducted at Source) as one of its components.
TDS is a specific type of withholding tax where tax is deducted at the source of income.
Withholding tax can also include other types of taxes withheld by a payer before paying the income to the recipient.
For example, TDS is a form of withholding tax applied to income from in
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I applied via Naukri.com and was interviewed in Jul 2023. There were 3 interview rounds.
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