News & Updates

4th Installment of Advance Tax – AY 2019-20

Aug 5, 2020

Dear All,

With reference to the captioned subject, we would like to remind you that the due date for payment of 4th instalment of advance tax for all the assesses for Financial Year 2018-19, relevant assessment year 2019-20 is 15th March 2019.
Section 211 of the Income Tax Act, 1961 provides that advance tax will be paid in four instalments of 15%, 45%, 75% and 100% of tax payable on current income by 15th June, 15th September, 15th December and 15th March, respectively in case of all assesses (including individuals) calculated on their estimated income likely to be returned for AY 2019-20.
Further, as per Section 234C of the Act, interest @1% per month shall be payable for any shortfall in payment of advance tax instalments. Accordingly, we request you to please ensure that the 4th instalment of advance tax i.e. 100% of the tax payable is deposited on or before the due date, viz 15th March 2019 to avoid any interest payment on the same.
Further, in case you require us to compute the same, we request you to provide the working/relevant details for computation of advance tax for our review and examination.
Should you require any assistance/clarification in this regard, kindly feel free to reach us.

Best Regards
Team Taxation

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