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15th September : Due Date to Pay Second Instalment of Advance Tax
The due date to pay the second instalment of Advance Tax is just around the corner, i.e. 15th September 2016 for both individuals and corporate taxpayers. From F.Y. 2016-17, the provisions of Advance Tax for individuals have been made similar to that of corporate taxpayers.
Advance Tax is payable as follows by both individuals and corporate taxpayers:
|Due Date||Advance Tax payable (%)|
|On or before 15th June||15% of the advance tax|
|On or before 15th September||45% of the advance tax|
|On or before 15th December||75% of the advance tax|
|On or before 15th March||100% of the advance tax|
To understand Advance Tax in detail, read our blog Advance Tax What? Why? When?