Advance Tax Payment Due Dates (A.Y.2016-17): Last Dates to Deposit Advance Tax

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 three instalment for individual assessee and four instalments for companies and corporate assessees.

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But the above condition is applicable only if the Advance Tax is more than Rs. 10,000/-

In this article we will discuss only about due dates/instalment dates/payment of advance tax. The last dates for the payment of advance tax are very important to know for assessees.  We will cover other topics of advance tax in our next article.

Advance Tax Instalment Due Dates for F.Y.2015-16 (A.Y.2016-17)

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.

15 June 2015 (1st Instalment of Advance tax)

  • For non-company assessees – NIL
  • For Company assessees – 15% of advance Tax

15th September 2015 (2nd Instalment of Advance Tax)

  • For non-company assessees – 30% of advance Tax
  • For Company assessees – 30% of advance Tax

15th December 2015 (3rd Instalment of Advance Tax)

  • For non-company assessees – 30% of advance Tax
  • For Company assessees – 30% of advance Tax

15th March 2016 (4th Instalment of Advance Tax)

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  • For non-company assessees – 40% of advance Tax
  • For Company assessees – 25% of advance Tax

31st March 2016

Tax on capital gains or any income earned after 15th March.

Important Points for Advance Tax Payment

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 instalment. 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.

Latest amendment for Advance Tax Payment

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.

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7 COMMENTS

  1. 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) ?

  2. 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?

  3. 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?????

  4. 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.

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