All About Advance Tax

What is Advance Tax ?

Advance tax means income tax should be paid in advance instead of lump sum payment at year end. It is also known as pay as you earn tax. These payments have to be made in instalments as per due dates provided by the income tax department.

What is Advance Tax ?

Who should pay Advance Tax?

If your total tax liability is Rs 10,000 or more in a financial year you have to pay advance tax. Advance tax applies to all tax payers

Due Dates for payment of Advance Tax

Interest late payment of Advance Tax ?

Interest payable under section 234C  &  234B the simple interest @1% for a month or part thereof is chargeable for the period

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