Last date of Advance Income Tax
Thursday, March 12, 2009
Last Date is 15th March, 2009Individuals, Association of persons and companies are required to pay quarterly installment of advance income tax. Details are
Individuals and Association of persons:
are liable to pay advance tax for the current year in 4 installments
- equal to the latest assessed income tax (where their latest assessed taxable income is Rs.200,000/- or more)
Companies (other than banking companies):
are liable to pay advance tax for the current year in 4 installments
- equal to the latest assessed income tax or
- income tax payable on the current year's estimated income
- advance tax is also payable in the absence of the last assessed income on the basis of estimated quarterly profits of the current year.
Ref: Income Tax Ordinance, 2001, FBR
Labels: advance income tax, Taxation
posted @ 2:16 PM,
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