2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs 3.60 lakh crore
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Rs 2.60 lakh crore
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Rs 1.60 lakh crore
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Rs 4.60 lakh crore
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Detailed explanation-1: -Let’s Understand with the Help of An Example: Entire Rs 20, 000 has to be paid as advance tax, but in instalments, as follows: 1st instalment by 15th June, 2022 (15% of 20, 000) = Rs 3, 000. 2nd instalment by 15th Sept, 2022 (45% of 20, 000) = Rs 6, 000. 3rd instalment by 15th Dec, 2022 (75% of 20, 000) = Rs 6, 000.
Detailed explanation-2: -He should pay 15% of his tax liability in advance, hence, he should pay Rs. 15, 000 on account of advance tax by 15th June, 2022. His second installment of advance tax will fall due on 15th September, 2022. By 15th September, he should pay 45% of his liability in advance, i.e., Rs.
Detailed explanation-3: -11, 35, 754 crore, compared to Rs. 9, 47, 959 crore in the corresponding period of the preceding Financial Year i.e FY 2021-22, representing an increase of 19.81%. The Net Direct Tax collection of Rs. 11, 35, 754 crore (as on 17.12.