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Advance Tax Working


Paying advance taxes is one among the simplest ways to form sure that you simply don’t need to pay a considerable amount of income tax at the top of the year. If you select to step on this course of action, then you’ll need to pay your tax whenever you earn money.

Advance Tax or ‘Pay as you earn’ tax is one which is paid advance and in installments rather than a payment at the top of the year. .

Advance tax is applicable for all those whose tax liability is quite Rs. 10, 000 during the financial year. .

The advance tax is paid to the government because it is earned, and is an attempt of the government to receive a continuing flow of tax receipts throughout the year, rather than a payment at the top of the year.

Our Process

Step 1

Go to the I.T. Department’s online tax payment portal.

Step 2

Select the applicable challan number. For example, individual taxpayers will choose challan no 280 for advance tax payment.

Step 3

Set ‘Type of Payment’ as ‘(100) Advance Tax’.

Step 4

Apply for Digital Provide details like – mode of payment, address, assessment year, etc.Signature Certificate (DSC)

Step 5

Click on ‘Proceed’.

Step 6

Complete the transaction on being redirected to the slated online payment portal.

Step 7

Save the payment challan as it will come in handy for filing Income Tax Returns.

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  • Basic
    • 1000
      • Individual having salary, rent and interest income
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  • Premium
    • 1500
      • Individual having salary, rent and interest income
      • Income From Capital gain and businesss
    • Purchase Now
  • Ultimate
    • 3000
      • For Business entities having income from business and profession
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Advance tax helps in reducing the strain of taxpayers. By paying tax beforehand, taxpayers don't need to worry about money shortage or tax payments at the last moment.

It helps businesses in managing their finances well and provides a thought of the income they need to be earned during the year.

It increases government funds because the government can earn interest on the collected amount.

Advance tax payment saves people from defaulting on their tax payments.

It accelerates the collection process.

Documents Required


expected earnings statement

bank account details

challan details

Clear All Your Doubts !

Is an NRI required to pay advance tax?

If you are accruing income in excess of Rs.10,000 will be required to pay advance tax.

I forgot to pay my fourth installment on 15 March. What should I do?

In case you miss the deadline of paying your fourth installment on 15 March, you can make the payment by 31 March.

What happens if the advance tax paid is more than the total tax liability?

If the advance tax paid is more than the total tax liability, the extra amount will be refunded. If the advance amount is more than 10% of the tax liability, then an interest of 6% p.a. will be paid by the IT Department.

What is a mode of payment of advance tax?

You can pay your advance tax either by internet banking or through challan.

Will any tax payable till 31 March treated as advance tax?

Yes, any tax paid till 31 March will be considered as an Advance Tax payment.

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