Advance Tax

All About Advance Tax Under Income Tax Act

All about Advance Tax under Income Tax Act

/ Income Tax

Advance tax, as the name suggests is the tax which is to be paid in advance by the assessee during each financial year. It is also known as ‘Pay as your Earn’ Tax and is different from the usual income tax. For paying this tax, the assessee has to estimate his income beforehand for the entire financial year and pay the tax accordingly. This Advance tax collection is to ensure that the government is able to collect taxes uniformly throughout the year.

Advance Tax

Due date for fourth instalment of advance tax for the assessment year 20232-24 is 15th December, 2022. Book your dates now!

Advance Tax

Due date for second instalment of advance tax for the assessment year 20232-24 is 15th September, 2022

Advance Tax

Due date for first instalment of advance tax for the assessment year 20232-24 is 15th June, 2022

Advance Tax under Presumptive Scheme

Due date for payment of whole amount of advance tax in respect of assessment year 2022-23 for assessee covered under presumptive scheme of section 44AD / 44ADA is 15th March, 2022

Advance Tax

Due date for fourth instalment of advance tax for the assessment year 2022-23 is 15th March, 2022

Advance Tax

The due date for third instalment of advance tax for the assessment year 2022-23 is 15th December, 2021.

Advance Tax Payment

The due date for first instalment of advance tax for the assessment year 2022-2023 is 15th June, 2021.