Do we need to pay any advance tax for trading income before actually filing ITR?

[Private]

@anon1649903

How one can calculate advance tax in intraday trading ? where one can not assume earnings.

suppose I make 50L profit in intraday trading in APRIL-JUNE quarter. Do I have to pay 35% tax or just 15% in advance tax ?

I want to take above example.

JUNE 15th : 50L
SEP 15th : 2 CR
DEC 15th : 5 CR
MARCH 31st : 8 CR

tax liability would be around 3.36 cr.

@Quicko

if you have earned profit of INR 50 lacs upto 15th June, you must calculate and pay advance tax as 15% of tax liability. The tax is calculated at slab rates i.e. INR 13,65,000 (13,12,500 + 52,500 Cess). You must pay advance tax at 15% of such tax liability = 1365000 * 15% = INR 2,04,750.

so the first installment would be 3.36 x 15% = 50.4 lacs and if I have paid only 2,04,750 INR as per above example. does income tax department would charge interest rate for that period?

@Quicko @San78