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Advance Tax: What is the penalty for non-payment? | The Money Show

On The Money Show, with Mubina Kapasi, we discuss Advance Taxes, and why is it important to pay and know about them. Mayur Shah, Partner, PeopleAdvisory Services, EY, India, discusses what exactly is advanced tax, and who is required to pay the same. The tax liabilities after deducting TCS and TDS can make up for advanced taxes. He further discusses the state of payment exceptions, and the consequences of failure to pay the tax. It involves the estimation of income and the advance payment towards the same. He helps us understand how to calculate the tax after various deductions claimed, and applying various other tax rates. Watch the video to know more! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com