Due dates for Advance-tax payment (F.Y. 2015-16)

Following are the due dates for payment of Advance-tax for F.Y. 2015-16:-

A. In case of companies-

Due date for payment Amount of advance tax to be paid
On or before 15th June Atleast 15% of tax liability
On or before 15th September Atleast 45% of tax liability less earlier installment
On or before 15th December Atleast 75% of tax liability less earlier installments
On or before 15th March 100% of tax liability less earlier installments

B.  In case of taxpayers other than companies-

Due date for payment Amount of advance tax to be paid
On or before 15th September Atleast 30% of tax liability
On or before 15th December Atleast 60% of tax liability less earlier installment
On or before 15th March 100% of tax liability less earlier installments

Some important rules about Advance tax:

  1. If the tax liability in the previous Financial year is less than Rs. 10,000/- then taxpayer need not to pay advance tax in the current financial year.

E.g. – Mr. Ravi paid Rs. 8,650/- as his total tax liability for financial year 2014-15. Hence, Mr. Ravi is  not required to pay any advance tax installment for financial year 2015-16.

  1. Advance tax is payable on capital gains. However one cannot estimate the exact capital gain advance so as to pay his Advance tax installment. Hence if taxpayer is having any capital gain after the due dates of Advance tax installment, then such tax liability shall be paid in remaining installments.

Click here to know about Interest U/s. 234B.

Click here to know about Interest U/s. 234C.

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Due dates for Advance-tax payment (F.Y. 2015-16)
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The following article contains the due date for Advance Tax Payment.
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