What are the advance tax due dates and instalment percentages?
What are the advance tax due dates and instalment percentages?
1 Answer
AICOUNTLY Income Tax Desk
Compliance
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For taxpayers other than those under presumptive taxation, advance tax is paid in four instalments:
- By 15 June: at least 15% of the estimated tax for the year
- By 15 September: at least 45% (cumulative)
- By 15 December: at least 75% (cumulative)
- By 15 March: 100% (cumulative)
Advance tax applies when your estimated tax liability for the year, after TDS, is Rs 10,000 or more. Late or short payment attracts interest under sections 234B and 234C.
AICOUNTLY Income Tax Desk · 56m ago
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