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Advance Income Tax with due Dates for Filing Return

All the assessees, other than the assessee referred to in clause (b) of section 211(1) (see para (2) below), who are liable to pay the advance tax shall pay the same, in four instalments during each financial year and the due date of each instalment and the amount of such instalment shall be as specified in the Table below:

Advance Income Tax with due Dates for Filing Return

With due dates for Filling Returns

Due date of instalment Amount payable
On or before the 15th June Not less than 15%, of such advance tax.
On or before the 15th September Not less than 45% of such advance tax, as reduced by the amount, if any, paid in the earlier instalment.
On or before the 15th December Not less than 75% . of such advance tax, as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments.
On or before the 15th March Upto 100% of such advance tax, as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments;

Other points -

One should also keep in view the following points –

  • Where advance tax is payable by virtue of the notice of demand issued by the Assessing Officer, the whole or the appropriate part of the advance tax shall be payable in the remaining instalments.

  • Any payment of advance tax made on or before March 31 shall be treated as advance tax paid during the financial year.

  • If the last day for payment of any instalment of advance tax is a day on which the receiving bank is closed, the assessee can make the payment on the next immediately following working day, and in such case, the mandatory interest leviable under sections 234B and 234C would not be charged.

CONTENT :  Advance Tax and Refund

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