Advance Tax Due Dates F.Y.2017-18

Advance Tax is pre paid tax by the assessee on the income earned during the year. In simple words, you can say that assessee have to paid taxes in advance on the estimate income during the year in installment for individual assessee, companies and corporate assessees.

For example, for financial year 2017-18 (relevant to assessment year 2018-19) advance tax is payable in installments during 2017-18.

Who is Liable to Pay Advance Tax?

The following persons are required to pay advance tax before the last date.

  • Salaried Persons whose tax calculated more than Rs.10,000 are liable to pay advance tax.
  • Businessman whose tax calculated more than Rs.10,000 are liable to pay advance tax.
  • Freelancers whose tax calculated more than Rs.10,000 are liable to pay advance tax.

Who is not Liable to Pay Advance Tax?

Advance Tax Due Dates for (A.Y.2018-19 F.Y. 2017-18)

Advance tax has to paid by the assessee on the following dates specified by the Income Tax act. The delay in the payment of advance tax attracts penalty. Check Interest on Short or Non Payment of Advance Tax

Advance Tax Installment Due Dates
15% of Advance Tax 1st Installment 15th June
30% of Advance Tax 2nd Installment 15th September
75% of Advance Tax 3rd Installment 15th December
100% of Advance Tax 4th Installment 15th March
Tax on capital gains or casual incomes arising after 15th March, if any

Advance Tax Payment Due Dates Important Points

  • Business/Professional assessees declaring income under the estimated income scheme u/s44AD or 44ADA shall be required to deposit the whole of advance tax by 15th March of the financial year.
  • Any amount deposited by 31st March, is treated as advance tax for that financial year.
  • In the case of salary Income the tax is deducted by the employer. So TDS is also treated as prepaid taxes. So salaried person pay advance tax but in the shape of TDS. So the Salaried person need to pay tax, if the tax is less than TDS.  But if the TDS is less than actual Tax then they are also liable to pay advance tax.

But TDS should be deposited latest by 31st March of the financial year.

If on the due dates is Sunday or any holiday then the assesee can deposit the advance tax on next working day. It will treated as advance tax and no penal interest will be charged.

Check our article: Who is required to pay advance tax?

The payment of advance tax dates are very important. The penal interest at the end of the financial year will be calculated by the delay from the due date of particular installment. So don’t miss the advance tax payment date. To do this bookmark this page and visit regularly or subscribe your email to get monthly reminder of all the due dates/closing dates of Income Tax and other taxes in India.

Know more about how to deposit advance tax?

How to Calculate Advance Tax?

  • Advance tax is payable in installment as above on total income estimated for the financial year including capital gains and casual incomes such as winning from lotteries, races etc.
  • The income for the current year should be estimated as precisely and correctly as possible. The mistake attracts penal interest.
  • If any capital gains or casual income arises subsequent to payment of an installment, the remaining installment of advance tax should be revised. If any income arises after 15th March then advance tax can be deposited on such income up to 31st March.

Know more about how to calculate Advance Tax

Advance Tax Payment – Latest Amendments

Senior citizens (Over 60 Years) need not to pay advance tax if not having any business income. (w.e.f.1-4-2012).

Hope you will like our article on advance tax payment/instalment due dates. If you have any queries related to the last dates of advance tax payment then comment, we will try to answer in next 24 hours.

13 Comments

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  1. If a company is liable to pay tax as per mat for q3 then, does it have to pay advance tax as per mat or normal provisions of Income Tax Act?

  2. I am a salaried person and pay tax through TDS. I also earn income by way of house rent and also pay tax on the income (approx. 1.0 Lac) usually at the time of filing return. if the tax approx. 22000.00 shall come under the purview of advance tax OR what is the right time to deposit this tax? Please guide me.

  3. Hello,

    I am a pensioner having net income tax less than 10,000 for this year. TDS does not happen on my income. Under which section of payment should I pay my tax for the FY 2015-2016.

    1. hello Akila, You don’t need to pay advance tax as your tax is less than 10,000 annually. You don’t need to mention any section while paying income tax. You just fill online form 280 via TIN and pay through net banking.

  4. Sir, I, a Senior Citizen age 62 yrs paid advance tax amount less than 10,000 for AY 2016-1 in Jan 2016 on my total pension+interest received from banks on deposits. I have no business/other income.
    On 14 Mar.2016, I received arrears of pension and my total taxable income for AY 2016-17 increased.
    Please tell me, How can I pay ”difference” of advance tax for AY2016-17 before 31 March 2016.

  5. Sir,
    When i am preaparing return (AY 2014-15) filing today it show me some amount to pay (interest Rs 452 in 234A column), even i have deposited self assessment tax of Rs 11320 online on 30 july 2014 and already figure is visible on 26AS form.
    Please guide me.

  6. Hi!
    i hv a company franchise and giving service to its customers. My monthly invoice amount ‘ll b approx 250000 rs. (including service tax)
    will company deduct TDS and how much?????

    1. Sir,

      If you have TAN no. then you applicable for TDS deducting.

  7. if the due date falls on a Sunday or a public holiday what is the due date? For example, Sep 15 is a Sunday. The due date is 16th Sep or 14th Sep?

  8. what is criteria of penalty to pay the advance income tax ?

  9. Thanks for the excellent article. Which is the last date for paying adv.tax for the Sr.Citizens?–15th Mar? 31st Mar? or, just before filing the return( ie. 31st July) ?

  10. mvgopalakrishnan

    it’s very useful, highly informative

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