Advance Tax Guide#
What is Advance Tax?#
Advance tax is payment of tax in installments during the financial year.
Due Dates#
| Installment | Due Date | Amount |
|---|---|---|
| 1st | 15th June | 15% of tax |
| 2nd | 15th September | 45% of tax |
| 3rd | 15th December | 75% of tax |
| 4th | 15th March | 100% of tax |
Who Must Pay?#
- Tax liability > ₹10,000
- Salaried with tax deducted at source
Consequence of Non-Payment#
- Interest @ 1% per month
- Penalty under Section 234B
Conclusion#
Advance tax ensures smooth tax compliance.