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Sunday, 13 March 2022

Advance Tax

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Advance Tax

The due date to pay the 4th Installment of Advance Tax is nearby!

Pay 100% of your tax liability before the due date.

Let us understand what advance tax is – Advance tax is the Income Tax Payable if your tax liability exceeds INR 10,000 in a financial year, It is to be paid to the Government/Income tax department in the Year you earned it. It is required to be paid Quarterly intervals i.e., advance tax due dates for each quarter is on the 15th of each quarter-end. Following is the Advance tax Due date calendar for your quick Reference:


Installment No.


Due Date

% of Payment



15th June




15th Sep




15th Dec




15th Mar


Type of Payments

There are two methods of paying advance tax:
1. Paying Online – Digitally
2. Paying offline – Through challan at Bank Counter

Steps for Online Advance Tax Payment

  1. Visit the TIN-NSDL site (Click here to Visit) and Select Challan No: 280 as shown in the below screenshot:

2. Select the Tax Applicable as shown in the below screenshot (i.e., if you are a company select Corporate Tax – 0020, if not select Income tax -0021).

3. After selecting Tax applicable, select Type of Payment – Advance tax (100) and Mode of payment. As the user preference i.e., maybe through Net banking or Debit Card and the name of the bank from the dropdown list as users preference.

4. Enter the PAN Details and other details as requested in the form (Mandatorily to be filled * marked items – like City/State, State, Pin Code) we recommend adding Email and Phone number as mandatory fields as they can be used for future reference in case of any failure.

5. Select Assessment Year – here comes the tricky part, For Income tax, the Year will be Financial Year (i.e., from Apr to Mar) – For Example for Financial Year -2021-22 the Assessment Year be – 2022 -23.

6. Click on “Submit to Bank”.

Verify the details that were entered and click. In Some cases you need to re-enter the Amount in Banking Page, so we suggest you please remember the Tax amount.

Always pay Advance tax on time and lead a happy and peaceful life.

For Tax Planning Contact your Tax Advisor.