
September 15 Advance Tax Deadline: Who Needs to Pay and Penalties
The deadline for the second advance tax instalment is September 15, 2026. Taxpayers with an estimated tax liability over ₹10,000 must pay on time to avoid penalties.
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What Happened?
The deadline for the second advance tax instalment is September 15, 2026. Taxpayers with an estimated tax liability over ₹10,000 must pay on time to avoid penalties.
Why it matters
Timely payment of advance tax helps taxpayers avoid additional interest charges.
Key points
- September 15 is the deadline for the second advance tax instalment.
- Taxpayers with an estimated tax liability over ₹10,000 must pay advance tax.
- Advance tax is paid in four instalments throughout the year.
- Missing the deadline incurs an interest charge of 1% per month.
- Interest is charged for shortfalls in cumulative payments.
Key insights
- Taxpayers should ensure they meet the September 15 deadline to avoid penalties.
- The interest for late payments can accumulate quickly, affecting financial planning.
- Understanding advance tax payment schedules can help taxpayers manage their finances better.
AI Quick Summary
The September 15 deadline for advance tax payments is crucial for taxpayers to avoid penalties.
Source
India Today



