| Income | Section | Installment 1 (June 15) | Installment 2 (Sept 15) | Installment 3 (Dec 15) | Installment 4 (Mar 15) |
|---|---|---|---|---|---|
| ₹10,00,000 | General | ₹1,50,000 | ₹4,50,000 | ₹7,50,000 | ₹10,00,000 |
| ₹10,00,000 | 44AD | ₹10,00,000 by March 31 | |||
Advance tax is income tax payable if your tax liability exceeds ₹10,000 in a financial year. It must be paid in installments within the same year.
Individuals, professionals, companies, or firms with expected tax liability of ₹10,000+ must pay advance tax. Senior citizens without business income are exempt.
Installments: 15% by June 15, 45% by Sept 15, 75% by Dec 15, 100% by Mar 15. Sections 44AD, 44ADA, 44AE: 100% by March 31.
Interest under Sections 234B & 234C will apply, increasing total tax liability.