Advance Tax Payment Last Date: The advance payment due date is on Tuesday and taxpayers must complete the process as soon as possible!
Advance tax payment is near and taxpayers need to pay the installment for the financial year 2021-22 by 15 March. If you are eligible to pay advance tax, then pay your installment to avoid interest.
What is Advance Tax?
Under provisions of advance tax, the taxpayer has to estimate the income earned for the financial year.
Subsequently, advance tax is paid based on the estimation. It is paid in installments according to the due dates declared by the IT Department.
How to Calculate Advance Tax?
Taxpayers have to visit the official website of IncomeTax India at the given link below
Go to the Advance Tax Calculator for F.Y. 2021 -22. After that, fill in the below-mentioned details-
1. Tax Payer
2. Whether opting for taxation under Section 115BAC?
3. Net Taxable Income
4. Income Tax
6. Education Cess
7. Secondary and higher education cess
8. Total Tax Liability
10. TDS/TCS/MAT(AMT), Credit Utilized
11. Assessed Tax
Click on Calculate
Advance Tax Payment Online
It can be paid through online mode. Taxpayers need to visit the website of the Income Tax Dept. and by visiting there, payment for advance tax can be made with ease.