Advance tax for person other than companies is payable if tax due in a financial year is more than 10000 before the TDS amount .Such person have to pay advance tax in three installments.
- 30% of tax assessed =15 September of previous year(for Ay 2012-13date is 15.09.2011)
- 60% of tax assessed=15 December of previous year ( For Ay 2012-13 Date is 15.12.2011
- 100% of tax assessed = 15 March of previous year (For Ay 2012-13 date is 15.03.2012)
Here tax Assessed means = Tax due minus Tax deducted at sources.Please note that to check 10000 cut off limit you have to consider full amount of tax due but for interest calculation amount is to be taken is total tax due minus tax deducted/ collected at source(TDS/TCS).
he has to pay 80 Rs interest(1 % per month) for each month u/s 234B plus interest u/s 234C =296 Rs
4.If he declare his income to employer