Tax
What is Advance Tax? — Meaning, Definition & Example
Definition
Advance tax is income tax paid in instalments during the financial year instead of at year-end, applicable when tax liability exceeds ₹10,000. Due dates: 15% by June 15, 45% by Sep 15, 75% by Dec 15, 100% by Mar 15. Interest under Section 234B/234C applies for non-payment.
💡 Real Example
A freelancer earning ₹15 lakh/year pays advance tax quarterly: ₹22,500 by June, ₹45,000 by Sep, ₹45,000 by Dec, ₹37,500 by March.
🇮🇳 Advance Tax in Hindi / हिंदी में
एडवांस टैक्स — एडवांस टैक्स वित्तीय वर्ष के दौरान किस्तों में भुगतान किया जाने वाला आयकर है, जब कर देनदारी ₹10,000 से अधिक हो।
Advance Tax (Hinglish) — Advance tax wo income tax hai jo financial year ke dauraan instalments mein pay karna padta hai jab tax liability ₹10,000 se zyada ho.
❓ Frequently Asked Questions
What is Advance Tax in simple words?
Advance tax is income tax paid in instalments during the financial year instead of at year-end, applicable when tax liability exceeds ₹10,000. Due dates: 15% by June 15, 45% by Sep 15, 75% by Dec 15, 100% by Mar 15. Interest under Section 234B/234C applies for non-payment.
Can you give an example of Advance Tax?
A freelancer earning ₹15 lakh/year pays advance tax quarterly: ₹22,500 by June, ₹45,000 by Sep, ₹45,000 by Dec, ₹37,500 by March.
What is Advance Tax meaning in Hindi?
In Hindi, Advance Tax is called एडवांस टैक्स. एडवांस टैक्स वित्तीय वर्ष के दौरान किस्तों में भुगतान किया जाने वाला आयकर है, जब कर देनदारी ₹10,000 से अधिक हो।