Guide to Advance Tax Payments in India
In India, advance tax is paid in installments throughout the financial year.
1. First Installment:
Due Date: On or before June 15th of the financial year.
Percentage of Tax Payable: 15% of the advance tax payable.
2. Second Installment:
Due Date: On or before September 15th of the financial year.
Percentage of Tax Payable: 45% of the advance tax payable, less the amount paid in the first installment.
3. Third Installment:
Due Date: On or before December 15th of the financial year.
Percentage of Tax Payable: 75% of the advance tax payable, less the amounts paid in the first and second installments.
4. Fourth Installment:
Due Date: On or before March 15th of the financial year.
Percentage of Tax Payable: 100% of the advance tax payable, less the amounts paid in the first three installments.
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