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Today, i.e. 15th September 2016 is the last day to pay the second instalment of Advance Tax 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?
