Advance tax is the amount of income tax that is paid in advance and in installments before scheduled due dates.
The last date for paying advance tax for the financial year 2022-23 is here. Income Tax payers need to submit the first instalment of advance tax by June 15, i.e on Wednesday.
“Fast-forward Progress, Fast-forward the Nation’s Growth. Do remember to pay the first instalment of Advance Tax for FY 2022-23 by 15th June, 2022,” the Income Tax department tweeted.
Advance tax is the amount of income tax that is paid in advance and in installments before scheduled due dates. Installments and due dates are decided by the Income Tax department.
Companies, corporates, salaried employees and other individuals whose tax liability is Rs 10,000 or more after deducting Tax Deducted at Source (TDS)/Tax Collected at Source (TCS) are liable to pay advance tax, according to the Central Board of Direct Taxes.
You can advance tax online at https://www.tin-nsdl.com/services/oltas/e-pay.html
Go to the “e-payment: Pay Taxes Online” section and select “Click to pay tax online”.
You will be redirected to the “e-Payment of Taxes” page.
You need to select “CHALLAN NO./ITNS 280” for payment of advance tax, and self-assessment tax and click on proceed.
You need to select “Tax Applicable”, “Type of Payment”, and “Mode of Payment”.
Then you need to enter details such as permanent account number and assessment year.
You need to enter address details.
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