writer99025 Posted March 10, 2016 Share Posted March 10, 2016 Got a quick question on Advance Tax (last date March 15)… Link to comment Share on other sites More sharing options...
writer99025 Posted March 10, 2016 Author Share Posted March 10, 2016 Basically, should I pay 100% of my taxes as “Advance Tax” by March 15… I have paid around 80% of my prospective taxes so far. Will I be fined if I don’t pay the remaining 20% and if so at what rate? Thanks. Link to comment Share on other sites More sharing options...
misscrystal Posted March 11, 2016 Share Posted March 11, 2016 Must not be any. It sounds like you have something similar to what we have. As self employed people we have to pay our yearly taxes in advance 4 times a year and if we don’t we pay a fine. Link to comment Share on other sites More sharing options...
writer99025 Posted March 11, 2016 Author Share Posted March 11, 2016 Yeah, I know, but I don’t know how much my taxes will be this year, so paid what I believe to be 80%. It’s really complicated. Link to comment Share on other sites More sharing options...
writer99025 Posted March 11, 2016 Author Share Posted March 11, 2016 I mean, the financial year is from April 1 to March 31, and my freelance income is just a part of what I make, so it’s very confusing for me. Already pay a lot of tax by Indian standards. I will not know the full picture till I file my tax returns with the help of an accountant - but that is done in July. Link to comment Share on other sites More sharing options...
writer99025 Posted March 11, 2016 Author Share Posted March 11, 2016 LOL…my taxes are more than my expenses now that I think about it 🙂 Link to comment Share on other sites More sharing options...
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