Advance Tax due Dates & Rate of interest on late payment

  • September 11, 2020
  • CA Chandan Agarwal's Office

ADVANCE TAX

As per section 208 of the Income Tax Act 1961 a person shall be liable to pay advance tax  if Tax Liability exceeds Rs. 10,000 after deducting the amount of TDS,TCS. Every Assesses shall estimate his Income and Tax Liability for any previous year and Income Tax so estimated shall be paid in advance in accordance with the manner given below.

Advance Tax Due Dates Advance Tax Installment  Amount
On or before 15th June Not less than 15% of advance tax liability
On or before 15th September Not less than 45% of advance tax liability
On or before 15th December Not less than 75% of advance tax liability
On or before 15th March 100% of advance tax liability

Read more on: https://taxguru.in/income-tax/advance-tax-due-dates-rate-interest-late-payment.html

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