Quick Summary
Advance Tax requires payment of tax liability before the end of the financial year.
For companies, advance tax is payable in 4 installments: 15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15. Interest is levied for shortfall or delay.
Key Points
- 4 installments for companies
- Due dates: June, Sep, Dec, Mar
- Interest on shortfall
- Based on estimated income
- Applies if tax > ₹10,000