Tax paid in instalments during the financial year rather than in a lump sum at year-end. Required if estimated tax liability exceeds ₹10,000/year. Due dates: 15% by Jun 15, 45% by Sep 15, 75% by Dec 15, 100% by Mar 15. Late payment attracts 1% monthly interest under Section 234B/234C.
What is Advance Tax?
Tax paid in instalments during the financial year rather than in a lump sum at year-end. Required if estimated tax liability exceeds ₹10,000/year. Due dates: 15