Which of the following statements is true regarding the liability to pay advance tax?

CA Intermediate · Taxation · MTP · September 2025
Which of the following statements is true regarding the liability to pay advance tax?
(A) Advance tax is payable only if total income exceeds basic exemption limit
(B) Advance tax liability arises only for those who have income from business or profession.
(C) Ramesh & Sons, a HUF, has to pay advance tax if the advance tax payable is 10,000 or more in a financial year.
(D) Mr. Suresh opting for presumptive taxation under section 44ADA is required to pay advance tax in four instalments

Suggested Answer and Working Notes:

Correct Answer: Option (C)

Ramesh & Sons, a HUF, has to pay advance tax if the advance tax payable is 10,000 or more in a financial year.

Topics: Paper 3A: Income Tax Laws

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