Paying Advance Tax: Step by Step Guide to Pay Advance Tax
Step by Step Guide to Pay Advance Tax: Section 208 defined that every person whose estimated tax liability for the financial year is RS. 10,000 or more, shall pay his tax in advance during the financial year in the form of Advance Tax. Advance is to be paid in different Installment given below
| Advance tax is to be paid in different Installment i.e | 15th of June @15% of the Advance Tax 15th of sep @45% Advance tax minus Advance Tax that has been paid. 15th of Dec @75% Advance tax minus Advance Tax that has been paid. 15th of March @100% of Advance tax Liability. |
How to Pay Advance Tax
- Log in to the income tax website (www.incometax.gov.in)
- Click services on e-pay taxes.
- Select the right Challan to pay your Advance Tax.
- Fill in the details of the right assessment year, PAN card, name, address, residential and mobile
number. - Once you are done filing you will be redirected to the Net Banking page, based on your
payment mode. - After making the payment, save a copy of the payment challan.
Author Bio:
Name: Vazna Sayyed
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Company: Bashmakh & Co
Location: Shill, Thane
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