Client pays 0 Advance Income Tax and this happens!

In this video, I've explained why non-payment of Advance Tax isn't as big an issue as some clients think it is. Detailed discussion of some aspects of Advance Tax has been done in this video.
✅ Website:-
taxationwithsahiljain.com
✅ Whatsapp/Telegram Number:-
8929-737672
✅ Telegram Channel:-
t.me/casahiljain
✅ Gmail Id:-
[e-mail]

[@avinashtauro]

Was never interested in commerce. Joined science, graduated in comp science, and run a software based business at 45 yo. Came across your channel while randomly browsing KZbin and watched 10-12 of your videos. I would have loved having a teacher like your. Your CA students are lucky.

[@muhammadinaam7845]

Definitely, we are.

[@bbsingh7554]

What is the name of company? what does it do?

[@Ramdoot_Shubham]

Same here

[@shivamtyagi5783]

Sir, why don't you a create a product for non CA, no commerce folks. I've been following you for a while and being a science grad I see a lot of value in what you teach and (more importantly) the way you teach it.

[@aniketbelsare3029]

Your communication skill is mesmerizing.

[@anish9409]

When Income tax department raids someone : "Haanji Good Evening"

[@rohan9106]

The Attire The Channel The Teacher The Thumbnail - Everything is just so perfect

[@mayankjain5489]

Being a student this channel provides you with great knowledge of the practical world.....

[@tithi214]

Awesome! Sir. Bilkul clear and to the point.

[@vidyutmankodi5159]

Wonderful. Aap har chij ko itna simple Bana dete ho, ki aise lagta hai ki hame aaj tak yeh kyon samaz nahi aaya. This aspect was not analyzed by me so far. Moreover, 31st March tak payment kar denese last installment ke upar interest nahi lagta, yeh bhi nayi baat Malum padi aaj. Thanks once again Sahil ji.

[@pratikbalduwa163]

Sir, the way you share such knowledge with us, will imaginarily let us to pay tax for it! ❤️

[@gauravjain6070]

You should calculate saving interest accumulated by not paying advance tax the same way you calculated penalty. Even though it is not 12%, it will not be 0% either - should be ~2.8%.

[@VisualEntertainments9]

"Hanji Good evening" Is the word that makes me come here to watch your video❤ Love from Swaroop Nagar.....

[@prasannavenkatesh5643]

Your videos are really educative! I from Southern India and know little Hindi. My kind request to have an English subtitles in your videos. It would be much appreciated and would reach much more people.

[@GeniusAjinkya]

Man I knew the entire provision but couldn't even think of this magical trick

[@sahilbhanushali3666]

Wow sir you are just amazing 😍 I always used to this that 1 percent per month is 12 percent per annum

[@suprotikdutta6693]

Thank you sir . I am starting a business and I was worried about the penalty since I cannot predict my income . You saved me . So big thank you to you .

[@yashranpara1210]

Very relateble, I have practical applied the same concept in my working.

[@mr.psk.972]

Sir bank will also calculate interest on 1.5 Lac 4.5 lac and 7.5 lac on time basis so it wouldn't be more than 40500 even in FD but yes the difference would be insignificant.

[@nitishmishra344]

Bro interest rate of bank is high (e.g. 6%) In this terms interest will be more

[@sushil2kashyap]

Thank you sir for this wonderful knowledge.

[@Arunkumar-ce7di]

very informative the way you explains concepts we easily understand but i am a medical student still your videos seems very interesting and informative

[@sureshnishtala2887]

Amaizng insight sahil sir.....awesome ...

[@Mortal_5]

Thanks sir keep sharing your knowledge ❤️

[@devendramishra7246]

Hnji Good evening!! Loved your voice sir!

[@deepaksingh-ju6tn]

Sir after high court judgement (i.e. Dream 11 is not gambling ,it involves skills) on dream 11 ,how it will be taxable,whether as per Slab Rate or Special Rate.....

[@lucifergod2038]

Another way of understanding the same could be that, You will be taxed at 12% BUT not for the whole year, Just for the delayed months, June 15's share will be charged for 9 months, sep 15's share for 6 months

[@sahilpardhan3284]

Really heart touching content❤️❤️❤️❤️❤️❤️

[@vaibhavbishnoi3839]

sir your youtube page is soo underrated. your videos are really helpfull.

[@anything4050]

I have a question ... Can a barber use special golden scissors and claim that it is business expenses and subtract it from total income and pay less tax on the profit he got ..

[@ahardikp]

bhai sach bolu ye aapne bahut mast baat batayi ❤️

[@goldiinam9024]

Superb ,Great. Plz.make some other videos like this.

[@ATPClasses]

Sir if possible please share excel sheet so that we can also do working....btw thank you so much for explaining this useful concept

[@nitinkakkar4921]

But if I don't pay any tax throughout the PY I will have to pay same on 01/04 of AY to prevent levy of 234B.

[@kavyadwivedi910]

What an analysis sir !!!

[@atdes5250]

does intra day traders have to pay penalties? they cant assume their income. suppose I earn 5L till 15th june, 50L till sep, 2 cr till dec & 5 cr till end of the FY. tax liability would be 1.65 cr how does IT department calculate penalties?

[@chirag7929]

Love the way u teach 💕

[@rdinteriorneeds---rdin4556]

Can we consider TCS on Purchase as advance tax... please clarify

[@pratikbalduwa163]

Just everyone fall in love, we rise in love with Sir's such precious knowledge and content, love you Sir!❤️✨

[@doctora5634]

At a time two jobs agar koi person kar rahe ho aur ek employer tds cut kar raha hai lekin dusra employer tds cut nahi kar raha to kya is case me advance tax bharna padta hai? Agar haan to kya wo 31 March k pehle bharna padega? Ya itr filing k time June July me?

[@ThisHandleIsTaken_]

Sir, where I live , it's all unregistered land . How is tax calculated on sale of such land and property built on such land ?

[@mviv6339]

from last year tds on interest till 40k was not being automatically being deducted by banks. previously it was 10k. If interest was coming to 39k it was not deducted. Suppose you have 7 different bank accounts and in all 7 you get 39k interest each, you automatically come in taxable bracket. But banks are not deducting tds. So what's the line of action here ? Do you just claim refund or any other proper action needed ?

[@harshitrawat5847]

Sir, you are the best..... 🤗

[@dudeyugant1472]

But the first installment we are not paying till 12 th month, so the interest why only for 3 months it should be for 12 months, Then second installment, interest should be for 9 months ?? And so on. Please explain sir.

[@akashpatel8267]

can GST officers charge penalty on tax evasion before gst (on vat and sales tax) to a business doing fraud?

[@Ram-yo1ii]

is it not incorrect ?? first 15% adv tax is 9 months away for year end so rather then multiplying by 3 it should be by 9 months.. same way it should be by 6monthx for next 45% one right ??

[@kunal2445891]

great clarification 🙂

[@vedanshaggarwal185]

Hello sir I have 1 query - if we do not pay till 31m also , then on 10lac 15 days interest will be there or penalty ? Pls reply

[@rahulrajendran6141]

Very helpful information sir 🙂

[@subhashch7581]

Feel like learning all what you know 😀❤️💐🙏

[@anubhavjain8996]

sir interest on tax payable calculation mein jab aapne interst calculate kiya hai waha payable mein 1.5 Lakh/ 3Lakh/ 3Lakh/ 2.5 Lakh kyu nahi likha aapne? Interest toh iss par calculate hona chahiye tha?

[@kaar458]

advance tax pgbp case me dena hota ha ya salary income wale indivdual ko bhi?

[@bhavyaaggarwal7299]

You should calculate saving interest accumulated by not paying advance tax the same way you calculated penalty. Like 1.5L for 3 months, then 3L for 3 months and so on. So, the statement that bank will give more interest than this is false. Also, government will charge tax on the interest income from FD, so effectively, it is a loss-loss situation for us. This government just want to suck our blood and not give a single benefit to actual tax payers, all the money is wasted on government buildings and people who does not even pay a single penny in tax.

[@Conceptskiclass]

Sir I've some doubt bcz aur 234B & 234C ka b interest aayega na?

[@rahulsah3147]

sir 10 lakhs pe 1%per month karke 12% p.a. ka interest to nahi lagraha hai but bank me 10 lakh ki deposit bhi to nahi horahi hai in this case. So my question is Bank me kaise zyada interest milega as compared to depositing advance tax?

[@mradulbhardwaj4134]

GST toys wala loop hole nahi bataya

[@sagarmisal5830]

sir is their any fast track available for direct tax want to purchase it

[@karthikjain3833]

Awesome explanation

[@sujalgupta222]

sir can i get itc on mobile phone which is paid by credit card installment

[@abhishekmallya]

Amazing Very helpful video 👌

[@adityabhatia7861]

Basically 1% on tax liability of quarterly basis i.e. rs 150000*3*1/100= 4500 and if we pay all the taxes at the end even after total interest 4.05% aggregate but if we deposit such tax liability due to govt in a bank we will get more interest i e int rate < fd rate

[@abhishekavhad8077]

The issue with this video is that it has mentioned only interest u/s 234C. There are 2 more sections 234A & 234B which charge 1% interest p.m each for shortfall in advance tax. Taking your total interest to around 12%

[@bharatsinghal5636]

Sir app offline kaha par padate ho

[@vinayakgupta8844]

Sir transfer pricing me carrer kesa hai

[@jamesdebbarma4119]

Can you make a video on Capital Gain Tax on investing in stocks for Tribals of Tripura living in Tripura and other States.

[@vishalsamnani2109]

What if in the illustrated case, you finally file a return with 50 lacs of tax liability? What amount of penal interest is payable on balance 40 lacs and for what period?

[@yashagarwal1985]

It's depends on when the tax is paid.. IDEALLY tax should pe paid on 31march ..But if it is not paid..then ...The interest will be charged on 50lakhs from 1st April till the date of payment at 1% p.m ...

[@pavangudisagar8921]

Sir you've talked only about 234C.. 234B @ 1% will also apply

[@ROHITKSINGH107]

I just started working with a USA based company and they'll pay me 12000$ per annum. Do they need to deduct TDS? Do I need to pay TCS? I couldn't find any relevant content anywhere. Please help

[@SunnySingh-kb4bd]

Hello sir like I have home loan due to which I get deduction of 2 lac and able to get refund of tds if my salary is 10lacs but if I don't have home loan then how will I able to get most of the refund other than 80C,80D,80ccd (1b).

[@abhimanyusingh5134]

Sir meri mom lic agent hai unka policy premium bank me aata hai par woh cash mein payment karti hai toh kya isse koi problem hoga .

[@arnavkhandekar166]

Do salaried individual need to pay advance tax

[@siyasah5799]

Sir plz post some of yourdemo lacture for texation nov 2022

[@sahiljagwani5071]

Sir please make a video On Articleship based on your experience . We are confused whether to join Big 4 or mediocre firm. please clear this doubt.

[@jasrotia_singh]

Question ... If i am holding a NRI status (working in Foreign Navy 182 days outside india) and have some earnings from youtube So, do i have to pay income tax on my youtube income ?

[@satyakihalder5612]

Sir please make a video on how government employee can invest money legally ... ❤️

[@agarwalsandeep100]

Sir please make a video on interest liability if advance income tax on capital gain not paid before 31st March.

[@piyushsahni3314]

Sir any Fasttrack batch of yours for CA Inter Tax for May22 ?

[@vinaydhyani7054]

Hello sir, I want to purchase CA Final DT batch, the website says it's out of stock.

[@Ayushkumar-gy1kw]

Sir advance tax pay kyun karna padta hai kya isse Hume kuch exemption milte hain

[@vinaykothari4260]

Op Sir 🔥🔥

[@caties884]

Thanku ❤️

[@yohoo7761]

Hello sir, I love all your videos. Can you please share video on taxation for lottery winnings. I really want to know this. Also what happens if some person who is on student visa in USA and buys USA power ball lottery ticket and win the jackpot. Should he/she needs to file income tax return in india, if he/she never will be coming back to india.

[@yashpalsinghnegi]

very knowledgeable video

[@niraj5908]

Plz make a video on society tds savings of 2% and how it is done Detailed explanation of tds etc 😅 Thank you

[@sahilupadhyay4492]

Sir please tell something on recent bill passed On IIA in the parliament what impact it will have on CA's monoploy and future CA's And ICAI

[@GauravKumar-rw8iw]

Sir is year to exams MID JUNE tk hone wale hain 😯 to Sir hum CA FOUNDATION KI Preparation kb and kaise start kare🤔🤔🤔🤔🤔 Uske liye STRATEGY KYA HONI CHAHIYE ❓❓❓❓❓❓ Please Tell us Sir🥺🥺🙏🙏🙏🙏

[@killerfame3152]

Sir where is your classes channel for ca cma vs students

[@cjirohitsharmarssb5715]

sir i want to ask a question i am from art & economics stream can i study CA or not if i can i wish many please give sir reply

[@samarthmali4936]

sir are you bringing income tax marathon for may 22?

[@harshsojitra8086]

Sir Can You Make a Video On Export Import Income Tax Benefits and Other Deduction Which Help to increase our profits.

[@ashishmahipal4482]

You should not use 10 lakh in denomination as you not deposited 10 lakh on first day

[@Silvester22554]

Sir please make a video where propritor sales goods which is black and white(genuine). And its effect on itc.

[@nikhilagarwal4884]

Sir, BCCI ke taxation pe bhi ek video banaiye please

[@saifsyedmohammad3769]

thank you for your nice videos. i just wanted to point out that your last calculation is wrong because you are not keeping 10 Lakhs with you for the entire year. you accrue your tax as you get your profits. So you will never get 4% of 10 Lakhs for the whole year. the actual amount you will get by keeping it in bank will be much less

[@krishnathilak]

I think the point was to remove the notion that it is going to be around 12%. To keep my cashflows open as a business man , I may be willing to pay 80k (assuming my tax is around 20L) and not pay advance tax.

[@RajanKumar-tw2lu]

Sir Kiya sachme tax chori Ki information dene par reward milta Hai ?

[@nimitkapoor4536]

Thanks sahil

[@niharbarbhaya2991]

Maja aa gaya sir what a video sir.

[@adityanarayan3704]

sir make a video explaining why businessmen are able to buy multiple luxurious cars and if they save any tax by buying and registering car under company's name? please and thank you

[@gtxfifty750]

Sir make a video on 80e tax benefit for students who taking education loans for iims and GRE

[@yashagarwal1985]

You can claim deduction in payment of *interest* and not on principal repayment...on education loan under section 80E

[@tarunkothari1001]

Wow this just blew my mind sir. What an amazing concept 😍. Sir what if at 01.04, I know I hve to pay 10lakh as advance tax and actual liability will also be around that only, If I invest that 10Lac on day 1 in some good mutual fund expecting to give a 15% return p.a.then at year end it will be approximately 1.5 lac, I can choose not to pay Advance tax for the whole year, But I will ensure tht I m paying the tax before 31st March, STCG= 1.5 LAC * 15%= 22,500 INTEREST= 40,500 TOTAL= 63,000 Returns earned= 1,50,000 Net gain = 87,000 Even if the returns are capped at 12% jo ki index mein invest krke bhi you can earn still there is a great net benefit! Is this advisable ? 😂

[@Thesaurabhrawat]

No, because you don’t have 10L at the beginning of FY. You have to calculate return on investment same way(in installment-1.5/3/3/2.5) as you are calculating penalty on non payment of tax. Which would breakeven @12% and you also endup paying more tax on STCG.

[@carflipkeys]

One Question If someone receives large amount as profit from some unexpected event like sale of shares in last month of financial year which alters total tax liability substantially and couldn't have been predicted for advance tax then do we still have to pay whole year of penalty interest for that?

[@theilearn999]

Capital gain pr relaxation shayad ,aap check kr skte h

[@carflipkeys]

@@theilearn999 Thanks I will check

[@aayush3681]

Ig you'll have to deposit a certain sum of it in your next instalment

[@HimalayaGarg]

For capital gains they ask when the sum was received per quarter basis.. so not on whole year

[@vineedc1901]

Like u mentioned if the actual income goes to 50 L instead of estimated 10 L, then 40500 is just 0.8% of 50L which is negligible for a person who earns 50 L😂😂 Super video and very informative 👌🏼👌🏼

[@Dofeelthestudy-s9o]

Sir mera ak bhut long doubt hai..plz consider my msg and plz help me.. Sir mujhse ca inter direct entry route 7th attempt ho chuke hai, ca inter m...or abhi meri articalship bhi pending hai....or mera ca final nov 20 m due ho gya tha..but abhi tk ca inter clear nhi hua hai....plz guide me..kuch bhi samjh nhi a rha hai kya kru, i am extremely sad.

[@harshbadiger431]

super sir 👍❣