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Due date of advance tax

Anupam Podder (Student CA Final ) (24 Points)

26 March 2016

Due date of Advance Tax

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Jacky (Accountant & CA Final Student) (320 Points)
Replied 26 March 2016

https://www.charteredclub.com/advance-tax/

refer above v.well explained entire concept

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SANGAMESWARAN.N (Senior accountant) (116 Points)
Replied 26 March 2016

Advance tax

Advance tax is payable on all income during the financial year in every case where the amount of such tax payable by an assessee during that year is Rs. 10,000 or more. Following is chart showing Advance Tax Liability.

Advance Tax Liability for Assessee (other than Companies i.e. Individual, HUF, P. Firm, AOP)

Due date	Installment Payable
On or before 15th Sep, 2015	Not less than 30% of advance tax
On or before 15Th Dec, 2015	Not less than 60% of advance tax, as reduced by the amount, if any, paid in the earlier installment.
On or before 15Th Mar, 2016	The whole amount of advance tax as reduced by the amount(s), if any, paid in the earlier installment(s).

Advance Tax Liability for Companies

Due date	Installment Payable
On or before 15th Jun, 2015	Not less than 15% of advance tax.
On or before 15th Sep, 2015	Not less than 45% of advance tax as reduced by the amount paid in the earlier installment.
On or before 15Th Dec, 2015	Not less than 75% of advance tax as reduced by the amount paid in the earlier installments.
On or before 15Th Mar, 2016	The whole amount of advance tax as reduced by the amount paid in the earlier installments.