Can employee deduct advance tax from salary?

Created by Product Content Team, Modified on Mon, 30 Jun at 5:55 PM by Product Content Team


Yes, employees can deduct advance tax from their salary. 


Advance tax refers to the payment of taxes before the end of the financial year. Employees can opt for advance tax if they owe more than Rs. 10,000 in taxes for the year, and they can pay it in installments on specific dates. The payment must be made in the same year that the income is earned.


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