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Chapter 18- Installment Tax & Estimated Tax Return

Question 1- Page 161


As per Sec. 94, the tax shall be paid in advance as follows:
Up to Poush end:

40% of Total Estimated Tax Liability

Up to Chaitra end:

Remaining Tax Liability to make it 70% of Total Estimated Tax Liability

Up to Ashad end:

Remaining Amount to make it 100% of Total Estimated Tax liability

As such,
Up to Poush 20X1: 40% of Estimated Tax liability = Rs. 400,000; of which Rs. 20,000 is already paid out
of tax withheld by agents- so amounts to be deposited = Rs. 380,000
Up to Chaitra end 20X1: Make total payments covering 70% if Estimated Tax liability= Rs. 840,000; of
which Rs. 380,000 is paid in first installment in Poush, Rs. 20,000 as WHT up to Poush and Rs. 10,000
as WHT from Magh to Chaitra; so additional amount to be deposited is Rs. 430,000
Up to Ashad end 20X2: Make total payments covering 100% of Estimated Tax Liability= Rs. 1,200,000, of
which Rs. 840,000 has been paid by way of WHT and advance tax up to Chaitra 20X1 and Rs. 15,000
from Baisakh to Ashad by way of WHT from agents. The additional amount to be paid is Rs. 345,000.
Question 2- Page 161
a. Person receiving amounts after receiving withholding tax does not mean all payments are final
withholding. The person having less than Rs. 5,000 tax liability during any year is not required to pay
installment tax. So far as the person has tax liability exceeding Rs. 5,000 during the Year, the person
is required to pay tax in installment no matter whether its all payments are made of payments
attracting WHT. The tax withheld by the agent can also be considered as part of installment if it has
been deposited by agent. They are required to file estimated tax return.
b. In case a person having income only from remuneration, the resident employers are required to
calculate tax as per Sec. 87; and the Act has passed on the responsibility to calculate tax to the
employers, as such person deriving remuneration income from resident employers are not required to
calculate tax and pay installment tax. However, in case of nonresident employer, installment tax shall
be paid by the person deriving such income. The person requiring payment of installment tax are
required to submit estimated tax return.