Hi, i am software employee earning 6,14,000 p.a. one week back when i went to pay tax to my accountant he said that you have to pay fine. I have asked why. He said that you have to pay tax monthly or quarterly not yearly. Is it true? Need some details about this.

 Please note that if you are an employee your employer has to deduct TDS from your monthly salary.This would mean you personally would not have to pay any further tax.

 

If you are self employed than you are liable for advance tax payments, four times a year.

 

Kekin