Advance tax due today
The last advance tax instalment for FY2025–26 is due today, March 15, 2026 — you can pay online even though it’s a Sunday, but late payment risks penalties and interest BusinessToday. Also note India’s new Income Tax Act, 2025 (ITA 2025) goes into effect April 1, 2026, with revised slabs, streamlined filing and changed deductions — review planning before the new tax year BusinessToday.
A net-tax liability threshold of ₹10,000 cleartax.in makes a taxpayer liable for advance tax, and the fourth instalment must cover the remaining 100% of assessed liability for the year. news18.com Senior citizens who do not have business or professional income are exempt from advance-tax instalments under current guidance. news18.com Deferred or short payments attract installment-specific interest under Section 234C, calculated at 1% per month on the shortfall against required percentages (15% by June 15, 45% by Sept 15, 75% by Dec 15 and 100% by the final instalment). cleartax.in If total advance tax paid is less than 90% of the assessed tax, Section 234B imposes simple interest at 1% per month or part-month on the unpaid balance from the start of the assessment year until payment. cleartax.in Online payments now flow through the e‑Pay Tax facility on the Income‑Tax e‑filing portal (replacing the older OLTAS/Challan 280 route), which records payments and generates a Challan Reference Number for banks and taxpayers. incometax.gov.in The new Income‑tax Act, 2025 introduces a single "Tax Year" in place of the previous “previous year/assessment year” construct and consolidates and restructures provisions, per the government press note. pib.gov.in Under the reworked regimes flagged for implementation, the revised new‑regime slabs and rebate structure effectively make incomes up to about ₹12 lakh tax‑free through the rebate mechanism, while the new regime narrows allowable deductions. ndtvmoney.bankbazaar.com
