Advance Tax Payment <span title="(non-salaried/freelancers)?">(non-salaried/freelancers...</span>

Question

I am working as a freelancer since april this year. Prior to this I was employed with a company and had no worries regarding the tax payments as it was deducted as TDS from salary.

I want to know about the advance tax and whether I also have to deposit the advance tax? My total income for the year 08-09 is expected to be 6.5 lac. Since I m not working for any company, am I eligible to take the benefit of HRA, conveyance allowance, medical benefits etc?

How do I deposit advance tax? Please help

Answer 1

A freelancer is liable to pay advance tax quarterly, 15 days before the ending of the quarter. You might have a permanent account number. The same you should continue. You are only eligible for business expenses with the receipts in hand. You may consult a tax consultant to do all these against an annual contract. They also provide the service of depositing your money at the right place and hand you the proper receipt.