How Should Startups Deal With Advance Taxes [Whiteboard Friday]

Any individual or company who is doing business (not having salary income) needs to pay income tax in advance a couple of time during the year else they need to pay interest for delay in paying taxes.  In this episode of e-lagaan Whiteboard Friday, the team looks at advance tax, who and why should you be paying it.
It is important to make these tax payments on time and also to calculate your gross tax liability as accurately as possible, else you may still end up paying interest even after depositing your advance tax on time.

The episode covers the following topics

What is advance tax?

Why government collects advance tax?

Who needs to pay advance tax?

What is the schedule for advance tax payments? Take a look.

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