Advance-tax instalments, interest under ss.424/425, tax audit under s.63 and return due dates under s.263. Applicability depends on the entity's tax status — confirm with your CA.
Section 408 schedule
Advance tax applies where tax payable for the year, computed under the Act, is ₹10,000 or more (s.404). Presumptive assessees pay once by 15 March (s.408(2)). Exempt entities may have no liability.
Cumulative Tax Due
The standard cumulative instalment percentage is 15%, subject to statutory exceptions.
Cumulative Tax Due
The standard cumulative instalment percentage is 45%, subject to statutory exceptions.
Cumulative Tax Due
The standard cumulative instalment percentage is 75%, subject to statutory exceptions.
Full Year Clearance
The whole amount of advance tax. Interest can apply under ss.424/425 on shortfalls; a professional computes it.
Annual Tax Deliverables
Required from persons carrying on business or profession above the prescribed thresholds — not only companies — before the specified date linked to the return due date. Confirm applicability, forms and the date with your CA.
Companies: 31 October (30 November where a s.172 report is required). Other persons: 31 October where accounts must be audited under any law; 31 August with business or profession income whose accounts need no audit (and partners of such firms); otherwise 31 July — s.263(1)(c) as amended by the Finance Act 2026 (official consolidated text not machine-verified). Some exempt institutions must still file.
FAQ
Under the Income-tax Act, 2025 (from 1 April 2026), advance tax is payable where the tax payable for the year, computed under the Act, is ₹10,000 or more (s.404). Instalments are due by 15 June (15%), 15 September (45%), 15 December (75%) and 15 March (100%) (s.408(1)); assessees declaring presumptive income under s.58(2) pay the whole amount by 15 March (s.408(2)). Whether an entity is liable at all depends on its tax status — an exempt institution may have none — so confirm with your CA.
Section 424 provides interest where advance tax is not paid or is less than 90% of the assessed tax; section 425 provides interest for deferment of instalments (these replace ss.234B/234C of the 1961 Act for tax years from 1 April 2026). The amount depends on the facts and must be computed by a tax professional.
Section 63 of the Income-tax Act, 2025 requires an audit report, before the specified date, from persons carrying on business or profession above the prescribed thresholds. It is not limited to companies. Confirm applicability and the date with your CA.
Under the due-date table: 31 October for companies; 30 November where a report under s.172 is required; 31 October for other persons whose accounts must be audited under any law; 31 August for persons with business or profession income whose accounts are not required to be audited (and partners of such firms); 31 July for everyone else (s.263(1)(c), Income-tax Act 2025, as amended by the Finance Act 2026 — official consolidated text not machine-verified). Some exempt institutions must still file. Confirm with your CA.
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