Due Dates of Payment of Advance Tax

Due Dates of Payment of Advance Income Tax is 15th June, 15th September, 15th December and 15th March for companies and 15th September, 15th December and 15th March for individual, HUF and partnership firm .i.e All Non corporate assessee.

Liability of advanced tax: Section 208 of the income tax act makes it obligatory to pay advance tax in every case, when the tax on current income is greater than 10000, then assessee is liable to pay advance tax.

*Due date of payment*	*Advance tax amount paid till date*
*Due date of payment*	*Non-corporate assessee*	*Corporate assessee*
15^th June of previous year	NIL	15% of assessed tax
15^th September of previous year	30% of assessed tax	45% of assessed tax
15^th December of previous year	60% of assessed tax	75% of assessed tax
15^th March of previous year	100% of assessed tax	100% of assessed tax

Assessed tax means:

Tax on Income calculated-xxxxx

Less: TDS/TCS -xxxx

Instalments of advance tax and due dates

211. (1) Advance tax on the current income calculated in the manner laid down in section 209 shall be payable by—

(a) all the companies, who are liable to pay the same, in four instalments during each financial year and the due date of each instalment and the amount of such instalment shall be as specified in Table I below :

TABLE I

	Due date of instalment	Amount payable
	On or before the 15th June	Not less than fifteen per cent of such advance tax.
	On or before the 15th September	Not less than forty-five per cent of such advance tax, as reduced by the amount, if any, paid in the earlier instalment.
	On or before the 15th December	Not less than seventy-five per cent of such advance tax, as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments.
	On or before the 15th March	The whole amount of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments;

(b) all the assessees (other than companies), who are liable to pay the same, in three instalments during each financial year and the due date of each instalment and the amount of such instalment shall be as specified in Table II below :

TABLE II

	Due date of instalment	Amount payable
	On or before the 15th September	Not less than thirty per cent of such advance tax.
	On or before the 15th December	Not less than sixty per cent of such advance tax, as reduced by the amount, if any, paid in the earlier instalment.
	On or before the 15th March	The whole amount of such advance tax as reduced by the amount or amounts, if any, paid in the earlier instalment or instalments :

Provided that any amount paid by way of advance tax on or before the 31st day of March shall also be treated as advance tax paid during the financial year ending on that day for all the purposes of this Act.]

(2) If the notice of demand issued under section 156 in pursuance of an order of the Assessing Officer under sub-section (3) or sub-section (4) of section 210 is served after any of the due dates specified in sub-section (1), the appropriate part or, as the case may be, the whole of the amount of the advance tax specified in such notice shall be payable on or before each of such of those dates as fall after the date of service of the notice of demand.

For Payment / Depsoit of Adnavce Tax Download INCOME TAX CHALLAN NO 280: For Payment of Income Tax

Related posts:

Leave a Reply Cancel reply