Update 12 Mar 2024

A quick guide to advance taxes for traders

March 15th is the deadline for filing advanced taxes, and many traders think that it may be applicable to them. If you have an estimated tax liability of Rs 10,000 in the form of capital gains, then you have to pay advanced taxes. Ensuring that you file all your taxes on time is an importance aspect of being a trader. Most traders ignore this and they end up having to deal with income tax notices. 
In this video, Vishvajit Sonagara, the founder of Quicko explains what advanced taxes are, the common misconception, how to estimate advanced taxes and how to file them.
You can also check out this blog post for more. To learn more about taxation if you are a trader, checkout the taxation module on Varsity.