Tag: Advance Tax Deposit

The deposition of advance taxes seen a reduction to reduce decline resulting in more than 30% reduction in the Gross Tax Collections. The dip shows that the businesses have been impacted very harshly by the coronavirus lockdown.   All the companies and other “big” assesses are required to pay an advance tax to the government. The tax is to be paid in four instalments every quarter. The obligations of the first quarter are to be paid by 15th June. the officials have not made a clear statement on the collections as…