Advance tax: do you need to pay by 15 March?
Draft: not yet reviewed by a CA.
You must pay advance tax if your tax for the year, after TDS, is ₹10,000 or more. Payments are due by 15 June, 15 September, 15 December and 15 March, reaching 100% by the last date. Salaried people usually need it only when they have other income, such as rent or capital gains.
Who needs to pay advance tax?
Anyone whose tax for the year, after TDS and tax already collected, is ₹10,000 or more. Salaried people are often covered by TDS, but rent, interest or capital gains can push you over the line.
Resident senior citizens with no business income do not have to pay it.
What are the dates?
| By this date | Paid so far |
|---|---|
| 15 June | 15% |
| 15 September | 45% |
| 15 December | 75% |
| 15 March | 100% |
If you use the presumptive scheme for business or profession, you pay the whole amount by 15 March.
What if you miss a date?
You pay simple interest on the shortfall, charged monthly, when you file your return. Paying what you can sooner keeps the interest smaller. A capital gain late in the year has its own treatment, so ask your expert.
How do you work out the amount?
Estimate your income for the full year, work out the tax, then subtract TDS. Our advance tax calculator splits it into instalments.
Estimate for planning, not tax advice.