Advance Tax Deadline: Only a few hours are left to file your fourth installment of advance tax. Missing the March 15th deadline could result in hefty interest and penalties. Learn which taxpayers fall under this category and how to file your tax online without any hassle.
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Advance Tax Deadline: If you’re a taxpayer, this news is crucial for you. Tomorrow, March 15, 2026, is the last day to deposit the fourth and final installment of advance tax for the financial year 2025-26. According to Income Tax Department rules, if you fail to deposit your outstanding tax within the stipulated deadline, you could face hefty interest and penalties. Experts advise ensuring your payment today to avoid last-minute technical glitches and rush on the portal.
Who needs to pay advance tax?
As per Income Tax rules, individuals whose annual total tax liability exceeds ₹10,000 are required to pay advance tax. This category includes businessmen and professionals, as well as freelancers and salaried individuals. However, senior citizens over 60 years of age who are not in business are exempt from paying advance tax.
100% payment is required by March 15th.
The March 15th deadline is crucial because taxpayers must deposit 100% of their total estimated tax liability with the government treasury by this date. Previously, payments of 15%, 45%, and 75% are made in three installments, respectively. If you fail to make this payment after tomorrow, you will be charged penal interest at the rate of 1% per month under Sections 234B and 234C of the Income Tax Act.
Easy online payment method
Paying advance tax is now much easier. Taxpayers can access the e-Pay Tax facility by visiting the Income Tax Department’s official e-filing portal. Payments can also be made through net banking, debit cards, or by directly visiting authorized bank branches via challan.
