Advance tax is calculated on income that an individual might earn during the year, in that sense it is estimated income and rates applicable for the financial year.
Advance tax dates and tax payable from FY 2016-17 for both individual and corporate taxpayers
|Due Date||Advance Tax Payable|
|On or before 15th June||15% of advance tax|
|On or before 15th September||45% of advance tax|
|On or before 15th December||75% of advance tax|
|On or before 15th March||100% of advance tax|
|Due Date||Installment of Advance Tax|
|15th September||Up-to 30%|
|15th December||Up-to 60%|
|15th March||Up-to 100%|
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