Pay as you earn
The government does not want to wait until year-end for tax on big income. That is advance tax: paying in installments as you earn.
Who must pay
If your total tax for the year after TDS is Rs 10,000 or more, you must pay advance tax; resident seniors with no business income are exempt (Source: Income Tax Act, Sections 208 and 207).
The quarterly schedule
| Due date | Cumulative tax to pay |
|---|---|
| June 15 | 15% |
| September 15 | 45% |
| December 15 | 75% |
| March 15 | 100% |
Pay it step by step (portal path)
- Log in at incometax.gov.in.
- Go to e-File > e-Pay Tax.
- Choose Advance Tax (100) as the payment type.
- Pay and save the challan for your records.
What you should do
If you have rent or capital gains on top of salary, estimate the extra tax each quarter and pay so net dues stay under Rs 10,000.
Common mistake
Skipping installments and paying it all in March. Shortfalls attract 234B and 234C interest at about 1% per month.
How LastMinute ITR helps
LastMinute ITR shows how missed advance tax becomes a self-assessment bill with interest, so you can plan ahead. Start at /file, import at /file/import/documents, and reconcile at /file/import/mismatch.
LastMinute ITR is a companion tool, not affiliated with the Income Tax Department. You file and e-verify your return yourself on incometax.gov.in.