Advance tax - 15th March Last Payment
The provisions of advance tax are applicable on all types of persons irrespective of the residential status of the person. Advance Tax is payable only if net tax payable on Income of the full Financial year is Rs 10000 or more.if Tax payable is less than Rs 10000 then no Advance tax is payable.Surcharge, education and higher education cess should also be considered while calculating the advance tax liability. Advance tax is required to be paid by the all persons, both corporate assessee (company assessee) and non-corporate assessee (other than non-corporate assessee). The advance tax is to be paid in the following installments on the following dates:
What are the Due Dates and How to Calculate Advance Tax ?
The following chart helps you to knowing the due dates to pay Advance Tax and its Calculation.
Example:
If the Tax payee pays Gross Total Tax in whole year for A.Y. 2013-14 i.e. Rs. 100000.00 then;
ADVANCE TAX CHART
|
Gross Income Tax
|
Rs. 100000.00
|
For Non Corporate Cases (Non-Company)
|
Rates
|
Amount of Tax (Rs.)
|
15th Sep
|
30%
|
30000
|
15th Dec
|
30%
|
30000
|
15th Mar
|
40%
|
40000
|
For Corporate Cases (Company)
|
Rates
|
Amount of Tax (Rs.)
|
15th June
|
15%
|
15000
|
15th Sep
|
30%
|
30000
|
15th Dec
|
30%
|
30000
|
15th Mar
|
25%
|
25000
|
Free Download Advance Tax Challan.
The Income Tax Challan payment through e-Payment facilitates and payment of direct taxes online by taxpayers. To avail of this facility the taxpayer is required to have a net-banking account with any of the Authorized Banks.
Easy Procedure to pay Income Tax Payment by " e-payment " :
1. To pay taxes online the taxpayer will select the relevant challan i.e. ITNS 280, ITNS 281, ITNS 282 or ITNS 283, as applicable.
2. Enter its PAN / TAN as applicable. There will be an online check on the validity of the PAN / TAN entered.
3. If PAN/ TAN is valid the taxpayer will be allowed to fill up other challan details like accounting head under which payment is made, name and address of TAN and also select the bank through which payment is to be made, etc.
4. On submission of data entered a confirmation screen will be displayed. If the taxpayer confirms the data entered in the challan, it will be directed to the net-banking site of the bank.
5. The taxpayer will login to the net-banking site with the user id/ password provided by the bank for net-banking purpose and enter payment details at the bank site.
6. On successful payment a challan counterfoil will be displayed containing CIN, payment details and bank name through which e-payment has been made. This counterfoil is proof of payment being made.
SELECT APPLICABLE CHALLAN
CHALLAN NO./ITNS 281 (Tax Deducted at Source / Tax Collected at Source (TDS/TCS) from corporates or non-corporates)
CHALLAN NO./ITNS 280 (payment of Income tax & Corporation Tax)
CHALLAN NO./ITNS 282 (payment of Security Transaction Tax, Hotel Receipts Tax, Estate Duty, Interest Tax, Wealth Tax, Expenditure Tax /Other direct taxes & Gift tax)
CHALLAN NO./ITNS 283 (payment of Banking Cash Transaction Tax and Fringe Benefits Tax)
Know more about e-Tax Payment
For Bank Contact Details Click Here
Select your e-Tax Payment Authorised Banks Click Here
What is e-Tax Payment System ? Click Here
