What's your TC and how much tax did you pay?

I will go first:

TC - 18 LPA Paid Advanced Tax - 40k (final tax will be lesser)

23mo ago

DerpyBoba

Stealth

23mo

What is the benefit of paying advance tax?

Also, by advance tax do you means the amount deducted by employer or you paid yourself?

SparklyBoba

Plivo

23mo

I work as a consultant and not as an employer, and for a non Indian company. So, my taxes are not deducted at source.
And I use rhe 44ADA presumptive taxation, for which you are required to pay your taxes in advance.

DerpyBoba

Stealth

23mo

GoofyPancake

Microsoft

23mo

Dude... You brought your taxable income around 637500 😮... Could you explain the deductions please...

SparklyBoba

Plivo

23mo

I use 44ADA presumptive taxation, which allows you to show upto 50% of your income as expenses.

And the rest of it are ELSS, NPS, Health Insurance, etc.

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