Applicability of advance tax depends on my tax liability or on my income type?

if my tax liability is less than 10,000 rs. then still i have to pay advance tax just because as a trader i reporting my income as a business income ?


Hey @mehul03,

Every person whose tax liability for a financial year exceeds INR 10,000 has to pay advance tax on an installment basis. Income from all the heads is added to calculate tax. In your case, you do not need to pay advance tax on your business income.

Learn more about advance tax in this article.