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Know about Due Dates of Advance Tax Payment

Due Dates of Advance Tax Payment

Tax payers must pay annual tax before 31st March. But sometimes tax payer gets difficulty in collecting huge amount for tax in one time. Now advance tax payment facility is available for those persons. Whoever earns more than 6,000 per month is eligible for tax returns. There are so many govt. employees, salaried co-workers, eligible to pay Delhi commercial tax. Advance tax payment is such a wonderful facility for those employees wants to pay tax in installments. If your tax amount is more than 10,000 you are liable to pay tax in advance.

A businessman whose company’ turnover is 8% where excluded from the advance tax category in the Financial Year of 2014-15 and 2015-16. But now they can pay the whole income of advance tax at one time on or before 15th March of 2016-17 FY. Under section 44AD and 44AE, business person whose turnover is more than 2 crore is eligible to pay advance tax. This presumptive scheme is eligible for the other professionals like doctors, lawyers and architects earns more or less than 50 lakhs reliable to pay advance tax payment due dates.

advance tax payment due dates

Due Dates of Advance Payment of Tax

For all big business tycoons and professionals these are the due dates to pay advance tax.

Financial Year: 2016-17

Here is the summary of Due date of Advance tax payable.

1ST Installment:

On or before 15th June, 15% of advance tax is payable.

2nd Installment:

On or before 15th September, 45% of advance tax is payable

3rd Installment:

On or before 15th December, 75% of advance tax is payable.

If not paid, 100% of advance tax is payable before 15th March.

We have provided this guide for those persons who want to pay income tax in installments. This is very easy and beneficial scheme for the people who want to get relaxed in the FY of 2016-17. Now anyone can pay advance tax online. Just you need to enter your personal info and challan 280. Your payment will be accepted online. It is not very lengthy process. You will find it in our next article of how to pay advance tax online. Please keep visit this site.

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Updated: December 14, 2016 — 4:34 am
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