The final advance tax installment for FY 2024-25 is due on March 15. Individuals whose yearly tax liability exceeds ₹10,000 must pay advance tax, especially if they earn through rent, interest, or capital gains. However, salaried individuals are exempt if their employers deduct TDS accurately.
Advance tax payments follow four schedules—15% by June 15, 45% by September 15, 75% by December 15, and 100% by March 15. Late payments attract penalties under Sections 234B and 234C, with a monthly 1% interest on unpaid amounts. Senior citizens with no business income need not pay advance tax.
Pay your advance tax via the Income Tax Department’s e-filing portal. Choose the correct assessment year, calculate your liability, and complete the payment. Accurate planning prevents penalties and ensures compliance.
Meeting the March 15 deadline helps you avoid additional costs and supports national financial goals. Ensure all deductions and TDS credits are factored into your liability. Timely action keeps your tax journey stress-free and contributes to India’s economic growth. Stay proactive to handle your taxes responsibly.
