The due date to pay the second instalment of Advance Tax is just around the corner, i.e. 15th September 2016 for both individuals and corporate taxpayers. From F.Y. 2016-17, the provisions of Advance Tax for individuals have been made similar to that of corporate taxpayers.
Advance Tax is payable as follows by both individuals and corporate taxpayers:
| Due Date | Advance Tax payable (%) |
|---|---|
| On or before 15thJune | 15% of the advance tax |
| On or before 15thSeptember | 45% of the advance tax |
| On or before 15thDecember | 75% of the advance tax |
| On or before 15thMarch | 100% of the advance tax |
To understand Advance Tax in detail, read our blog Advance Tax What? Why? When? [text-blocks id=”file-your-return”]