Advance Tax Due Dates

1. Advance Tax Due Dates for Individuals and Corporate Taxpayers

Due Date of InstalmentAmount of Advance Tax Payable
On or before 15th June15% of Advance Tax
On or before 15th September45% of Advance Tax minus the previous instalment
On or before 15th December75% of Advance Tax minus the previous instalments
On or before 15th March100% of Advance Tax minus the previous instalments

How is advance tax calculated?

Here is how the advance tax to be paid is arrived at:

Income tax on estimated total income
– Relief under section 87A
= Income tax after relief u/s 87A
+ Surcharge on the estimated income
= Tax Liability
+ Education cess
= Total Tax Liability
– Relief other than relief u/s 87A
= Advance Tax Liability

How to Pay Advance Tax Online?

A number of bank branches have been authorised by the Income Tax Department for receiving Advance Tax payment on behalf of the government. You can visit any of the bank branches and make the required payment. Alternatively, you can make online payment by visiting the official website of the income tax department.

  • Visit the e-payment facility on the website of Income Tax Department.
  • Choose the right form for the payment of Advance Tax. For individuals it is ITNS 280.
  • Select the correct code for Advance Tax. The code number applicable is 100.
  • Fill out your PAN, name, address, email address, number etc
  • Once you click on proceed, you will be redirected to the net banking page or debit card payment gateway, whichever you have opted for.
  • Make the payment.
  • After making the payment, you will get the receipt called challan 280 on the next screen. Save a copy of it as you will need it at the time of filing ITR.

Steps for payment of Advance Tax Offline

  1. Visit the bank branch and ask for the applicable tax payment challan form-Challan 280 (in this case).
  2. Fill in the details as required in the form. The details asked in the form are the same as required in the online form.
  3. Go to the relevant bank’s counter and submit the filled-in Challan 280 form along with the money. The tax payment can be made either in cash or cheque.
  4. Once you give the money and challan and the bank official will give you a receipt by tearing off a portion of the challan, filling in details of payment, and stamping it.