Liability for payment of Advance Tax
Under Section 208, obligation to pay advance tax arises in every case where the advance tax payable is Rs.10000 or more.
Installments of Advance Tax and due dates
A. For Companies
| Due date of Installment | Amount payable |
| On or before the 15th June of P.Y | Not less than 15% of Advance tax liability. |
| On or before the 15th September of P.Y | Not less than 45% of Advance tax liability, as reduced by the amount, if any, paid in the earlier installment. |
| On or before the 15th December of P.Y | Not less than 75% of Advance tax liability, as reduced by the amount, if any, paid in the earlier installments. |
| On or before the 15th March of P.Y | The whole amount of such Advance tax as reduced by the amount or amounts, if any, paid in the earlier installments. |
B.For Assessee- Other than Companies
| Due date of Installment | Amount payable |
| On or before the 15th September of P.Y | Not less than 30% of Advance tax liability. |
| On or before the 15th December of P.Y | Not less than 60% of Advance tax liability, as reduced by the amount, if any, paid in the earlier installments. |
| On or before the 15th March of P.Y | The whole amount of such Advance tax as reduced by the amount or amounts, if any, paid in the earlier installments. |
