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Have you checked your advance tax liability? Pay by this date to avoid penalties

Advance tax: If your estimated tax liability for any given financial year after subtracting tax deducted at source (TDS) exceeds Rs 10,000 then advance tax needs to be paid following a specified schedule. However eligible senior citizens and other prescribed individuals need not pay advance tax. Read here to know more about advance tax. ....

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Pay third instalment of advance tax on December 15, if your estimated tax liability is more than Rs 10,000 for the fiscal year

According to Section 208 of the Income-tax Act, any individual with an estimated tax liability of Rs 10,000 or more for the year is required to make advance tax payments in four tranches, with the third part falling due on December 15. ....

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