Advance Tax in India: Who Pays, Due Dates & Calculation
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Statura Team
Advance tax is income tax paid in instalments during the year rather than as a lump sum at year-end. It applies to anyone whose total tax liability exceeds ₹10,000 in a financial year.
Who Must Pay?
Businesses, professionals, freelancers, and salaried individuals with significant other income (capital gains, interest, rent). Senior citizens without business income are exempt.
The Four Instalments
- 15 June: 15% of estimated tax.
- 15 September: 45% (cumulative).
- 15 December: 75% (cumulative).
- 15 March: 100%.
Interest for Shortfall
Missing or underpaying instalments attracts interest under Sections 234B and 234C. Estimating income accurately each quarter avoids these charges.
Statura's tax team calculates and manages advance tax and income tax filings so you never miss an instalment.
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