How to pay advance tax?

Let me guide you on advance tax in a proper way. Advance tax is income tax that is paid in advance during the fiscal year rather than at the end. The tax laws specify that this must be paid at specific times throughout the year. Because it is paid in instalments throughout the fiscal year, advance tax is sometimes known as "pay as you earn" tax. It is critical to specify the correct assessment year when making an advance tax payment online. I will be explaining below how to pay advance tax.

Steps on how to pay advance income tax online:

1) Visit the official government website at 

2) Go to "Services," then "e Payment," and finally "Pay Taxes Online."

3) Select the relevant challan if you wish to pay your income tax ( Advance tax)

4) Fill in the blanks on the form with the correct information. You'll need to provide information such as the right assessment year, address, phone number, email address, bank name, captcha code, and other relevant details.

5) Once you've finished the form, you'll be directed to the bank's Net Banking page. Unpaid income should be double-checked on this page.

6) You will then receive payment information, including your challan number.

7) Once you've made a payment, it's vital that you declare it. To do so, go to the paid tax page and make a new entry.

Due dates for paying advance tax:

1) On or before the 15th of June of the financial year, you must pay 15% of the advance tax.

2) On or before September 15, you must pay 45 percent of the advance tax (less tax previously paid).

3) On or before December 15, you must pay 75 percent of the advance tax (less tax previously paid).

4) On or before March 15, you must pay 100 percent of the advance tax (less tax previously paid).

How to pay advance income tax in India offline?

Advance tax payments are also accepted at bank branches that have been authorised by the IT department to accept advance tax payments. You can pay your taxes in advance using challan 280, which is available at the branches. You should carefully complete the relevant sections of the form and check the applicable boxes. At the specified counter, you can make an advance tax payment by cash or check, accompanied by the form. Ensure that you receive an advance tax payment receipt from the counter. You can pay your taxes in advance at any time.

How to pay advance tax should be clear to you now.