14/09/2026
📢 ADVANCE TAX – 2ND INSTALLMENT DUE ON 15TH SEPTEMBER
🚨 IMPORTANT TAX COMPLIANCE REMINDER FOR TAXPAYERS!
If you are liable to pay Advance Tax, remember that the 2nd installment of Advance Tax is due on or before 15th September.
Advance Tax is a system of paying your estimated income tax liability in installments during the financial year instead of paying the entire tax amount at the end of the year.
📌 ADVANCE TAX INSTALLMENT SCHEDULE
For taxpayers who are required to pay Advance Tax, the tax is generally payable in the following installments:
🔹 15th June – 15% of estimated tax liability
🔹 15th September – 45% of estimated tax liability
🔹 15th December – 75% of estimated tax liability
🔹 15th March – 100% of estimated tax liability
👉 Therefore, by 15th September, the cumulative Advance Tax payment should generally reach 45% of the estimated tax liability for the financial year, after considering the tax already paid in the previous installment(s).
💡 WHO SHOULD CONSIDER ADVANCE TAX?
Advance Tax provisions generally apply to taxpayers whose estimated tax liability for the financial year is ₹10,000 or more, subject to applicable conditions and exemptions.
This may include:
✅ Individuals with significant business or professional income
✅ Freelancers and consultants
✅ Business owners
✅ Professionals such as doctors, lawyers, architects, etc.
✅ Taxpayers earning substantial income from investments or other sources
✅ Individuals having income from capital gains, rent, interest, or other taxable sources
⚠️ WHY IS THE 15TH SEPTEMBER DEADLINE IMPORTANT?
Missing or underpaying Advance Tax can result in interest implications under the Income-tax Act, depending on the taxpayer's circumstances.
Therefore, taxpayers should review their income and tax position well before the due date.
📊 Before making the payment, review:
✔️ Salary and business/professional income
✔️ Interest income
✔️ Rental income
✔️ Capital gains
✔️ Dividend and other taxable income
✔️ TDS/TCS already available
✔️ Previous Advance Tax payments
✔️ Eligible deductions and exemptions
✔️ Estimated total tax liability for the year
📅 15 SEPTEMBER – MARK YOUR CALENDAR!
💬 Need help calculating your Advance Tax liability or reviewing your tax position? Consult your tax professional before making the payment.
Stay compliant. Stay stress-free. Plan your taxes on time!
*CA HARSHAD VAGHELA* *H J VAGHELA & CO.* *Chartered Accountants*
📞 *+91 81401 86390*
📧 [email protected]
🌐 *sites.google.com/view/ca-harshad-vaghela*
