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What is advance tax?

Updated: 9/13/2023
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Q: What is advance tax?
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Meaning Advance Payment Tax?

Advance payment of tax means to pay tax along with the earning of his income this tax is paid on the current year income in the same year .In fact, it is paid as advance and it is called advance payment of tax


What do you understand by advance tax payment did government provide any special bonus on advance payment of tax?

Advance tax payment is paying of tax to the government in advance, before the year ends. The government do not provide special bonuses.


How do you treat interest on advance payment of tax in financial statements?

there is no interest on advance payment of tax


What do you understand by advance tax payment did government provide any special bonus on advance payment of tax-?

Advance tax payment is the type of tax that citizens pay at receipt of their salary, or before the year ends. The government do not give special bonuses on the tax.


Which challan is to be used for Advance Tax?

challan 280 is used for payment of Advance income tax in case your estimated income tax is more than 10,000 p.a.


What kind of interest will be deducted from my tax refund if I get a tax refund advance?

There are several different ways to get your tax refund advance loan. It can be very quick and easy. Most all companies that provide tax refund loans will require you to do a efile tax return as a prerequisite to a tax refund advance. The intrest charged depends on a few factors but the most important is your credit history. Intrest can be 5% to 60% deducted if you chose to get an advance.


Where can I learn about tax refund advance?

A tax refund advance is a small loan you can take out for the expected amount of your tax return. Companies such as H&R block offer these type of refunds.


Where can one get a tax refund advance?

You can get a tax refund advance from H&R Block. There are also other local places that offer advances on your tax refund. Be careful that you understand all the fees associated with a refund advance, as they are often very high.


How early can you get a tax refund advance?

the tax season ends in January so no you can not get an early tax check


What does APTC stand for?

Advance Premium Tax Credit


Did Jesus call tax collectors and misfits to advance the kingdom of God?

Yes. He called Matthew ( A tax collector) along with common fishermen (Peter) to advance the Gospel.


Advance tax vs tax at source?

Estimated tax payments and tax at source are basically the same in the pay taxes as you pay these taxes when you receive income and then you get a credit on your 1040 income tax return for the advance estimated taxes that have been paid or withheld at the source of the income. If too much is paid in advance you will receive a refund of the over over paid amount. If NOT enough was paid in advance then you owe some additional amount when you have completed your 1040 income tax correctly and have it ready to send to the correct IRS address.