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Advance tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 October 2015 Respected All,

I have a query regarding advance tax.

Payment of Advance Taxes of Income Tax - Individual/Firms:

• 1st Payment of 30% - 15th September
• 2nd Payment of 60% - 15th December
• 3rd Payment of 100% - 15th March

Payment of Advance Taxes of Income Tax - Companies:

• 1st Payment of 15% - 15th June
• 2nd Payment of 45% - 15th September
• 3rd Payment of 75% - 15th December
• 4th Payment of 100% - 15th March


Can I pay Advance tax beyond these dates?

Suppose I did not pay advance tax of September quarter on 15th September.Can I pay it in October or November

Is there any penalty or restriction on payment of advance tax beyond due dates?

I just want to pay IT on lump sum basis whenever i received the money I pay the IT.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
26 October 2015 you can pay it no restriction but interest will be applicable for the delayed remittance.
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CA Mehta Ankur N.

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CA Mehta Ankur N. (Expert)
26 October 2015 You can pay no issue at all, if you pay in October for Sept. installment interest will be charged.
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