User:Sajidhussain2121992/sandbox

<!-- EDIT BELOW THIS LINE Due date of submission of return[edit]

The due date of submission of return shall be ascertained according to section 139(1) of the Act as under:- 30 September of the Assessment Year(AY)	-If the assessee is a company (not having any inter-nation transaction), or -If the assessee is any person other than a company whose books of accounts are required to be audited under any law, or -If the assessee is a working partner in a firm whose books of accounts are required to be audited under any law. 30 November of the AY	If the assessee is a company and it is required to furnish report under section 92E pertaining to international transactions. 31 July of the AY	In any other case. If the Income of a Salaried Individual is less than ₹ 500,000 and he has earned income through salary or Interest or both, such Individuals are exempted from filing their Income Tax return provided that such payment has been received after the deduction of TDS and this person has not earned interest more than ₹ 10,000 from all source combined. Such a person should not have changed jobs in the financial year.[15] CBDT has announced that all individual/HUF taxpayers with income more than ₹ 500,000 are required to file their income tax returns online. However, digital signatures wont be mandatory for such class of taxpayers.[15] Advance tax[edit]

Under this scheme, every assessee is required to pay tax in a particular financial year, preceding the assessment year, on an estimated basis. However, if such estimated income is less than ₹ 10000, then no advance tax is payable.[16] The due dates of payment of advance tax are:- In case of corporate assessee	Otherwise On or before 15 June of the previous year	Up to 15% of advance tax payable	- On or before 15 September of the previous year	Up to 45% of advance tax payable	Up to 30% of advance tax payable On or before 15 December of the previous year	Up to 75% of advance tax payable	Up to 60% of advance tax payable On or before 15 March of the previous year	Up to 100% of advance tax payable	Up to 100% of advance tax payable Any default in payment of advance tax attracts penalty under section 234B and any deferment of advance tax attracts penalty under section 234C.[17] -