This document discusses advance tax payments for corporations in India. It explains that advance tax is paid in installments throughout the year rather than a lump sum at year-end. Corporations and individuals whose estimated annual tax liability is Rs. 10,000 or more are required to pay advance tax. Exceptions are made for senior citizens over age 60 without business or professional income. In conclusion, advance tax allows both the government and taxpayers to better manage tax collection and obligations over the fiscal year.

1. BUSINESS AND CORPORATE TAXATIOIN
PRESENTATION ON : ADVANCE PAYMENT
OF TAX WITH REFERENCE TO CORPORATE
ASSESSE
Submitted to:
Devaraju B. N
Lecturer in commerce
Department of PG Studies
G.F.G.C, Koppa
Submitted by:
Yashaswini Ballal
I Mcom
G.F.G.C, Koppa

2. ADVANCE TAX
 Advance tax is the amount of income tax that is paid
much in advance rather than a lump-sum payment at the
year end.
 It is a system wherein taxpayers pay a share of their tax
liability before the end of the year.
 To be paid in installments as per the due dates decided
by the income tax department.

3. ADVANCE TAX
Liability to pay advance tax
 As per section 208, every person whose estimated tax
liability for the year is Rs.10000 or more, shall pay his
tax in advance, in the form of “advance tax”
 However, a resident senior citizen ( i.e., an individual of
the age of 60 years or above during the relevant financial
year ) not having any income from business or profession
is not liable to pay advance tax.

5. CONCLUSION :
In conclusion, advance tax plays a crucial role
in the financial landscape by enabling governments
to manage revenue collection efficiently. For
taxpayers, advance tax serves as a means to fulfil
their tax obligations progressively throughout the
fiscal year, helping them avoid the burden of a lump-
sum payment at the year end.