|Due Date of Payment of Advance Tax||Amount
|Up to 15% of advance tax payable|
|On or before 15th September||Up to 45% of advance tax payable|
|On or before 15th December||Up to 75% of advance tax payable|
|On or before 15th March||Up to 100% of advance tax payable|
Steps for making the Online Payment are:-
1. Interest @1% is payable u/s 234B if 90% of the tax is not paid before the end of the financial year.
2. Interest @1% per month is payable u/s 234C if there is a deferment in Installments of Advance Tax.
Advance tax means paying a part of your taxes before the end of the financial year. Advance tax is the Income tax payable if the tax liability is more than Rs.10,000 in a financial year.2. Who are exempted from Payment of Advance Tax?
All the assesses who are required to get their accounts audited u/s 44B and all the companies (irrespective of the turnover) are mandatorily required to make the electronic payment of taxes through Internet banking or through credit or debit cards.
Other assesses can make either Online tax payment or through normal banking (by way of Cheque/ Cash).