Advance Tax Submission : March 15 is the last date for depositing advance tax, if missed, fine will have to be paid.

Advance Tax Submission : What will happen if advance tax is not paid before? How to pay advance tax online? Know the answers to all your questions here. Have you paid advance tax? If not, pay it immediately as the deadline for the last installment of advance tax payment is March 15.

What will happen if advance tax is not paid before March 15? How to pay advance tax online? Know the answers to all your questions here.

Advance Tax Submission – What is Advance Tax?

Advance Tax Submission
Advance Tax Submission

When you need to pay tax as per specific due dates allotted by the Income Tax Department instead of a lump sum amount it is known as advance tax.

Both individuals and businesses are liable to pay advance income tax as per these due dates.

Advance Tax Submission – Advance Tax Payments Deadlines

  • June 15: 15% advance tax has to be paid.
  • September 15: One has to pay 45% of advance tax, less any amount already paid.
  • December 15: Pay 75% of advance tax after deducting the amount already paid.
  • March 15: Pay the balance amount of advance tax after deducting the amount already paid.

Advance Tax Submission–Who has to pay advance tax?

Advance Tax Submission
Advance Tax Submission

Any person whose tax liability exceeds Rs 10,000 after deducting TDS and TCS is required to pay advance tax in four installments. You simply need to pay the remaining amount today, March 15, if you have previously paid the advance tax by the deadlines mentioned above.

If you have not paid advance tax on the due dates of the previous installment, you can settle the entire amount of advance tax by filing it with the IT department today.

Advance Tax Submission – How To Pay Advance Tax Online

  • Visit the Income Tax Department’s website.
  • Select ‘e-pay tax’.
  • Enter your PAN and the password you created.
  • Click on “Advance Tax” and select the preferred payment method you wish to pay.
  • Click the “Pay Now” button to finish the payment.
  • Once the payment is processed, you will receive a receipt as confirmation of your payment.

What is AIS?

Advance Tax Submission
Advance Tax Submission

AIS is a statement giving details of a taxpayer’s financial transactions like purchase and sale of securities, fixed assets, high value investments, TDS or TCS (tax deducted at source or tax collected at source) transactions, interest on savings accounts and deposits, dividends etc. The document is there. , rent received during a financial year, foreign remittances etc.

Advance Tax Submission-When is advance tax deposited?

Taxpayers are expected to deposit advance tax in 4 installments, with the deadlines being 15th June for 15% advance tax, 15th September for 45% advance tax and 75% by 15th December while 100% of advance tax is to be deposited by % has to be deposited. 15 March. Tax can be paid through e-payment method through net banking facility in authorized banks.

If tax is not paid on time, penalty will be charged under Section 234B and 234C of Income Tax.

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