The deadline for paying the fourth and final instalment of advance tax for the financial year 2025–26 is due on Sunday, 15 March 2026, where taxpayers are required to clear their outstanding tax liability.
It must be paid by all individuals whose net tax liability remains even after accounting for tax deducted at source (TDS), tax collected at source (TCS), and tax credits. If the remaining amount is ₹10,000 or more, paying advance tax becomes mandatory.
ALSO READ: Who must pay advance tax and what happens if you miss 15 March due date? | Full details
Advance tax is a “pay-as-you-earn” system in India, where taxpayers pay estimated tax in instalments during the financial year, instead of a lump sum at the time of filing their income tax return.
Who must pay advance tax?
— Freelancers and consultants
— Individuals receiving rental income from property
— Taxpayers with capital gains from stocks, mutual funds or other assets in the quarter in which the sale occurred
— Individuals earning interest income from fixed deposits or other sources
Should salaried taxpayers pay advance tax?
Even salaried individuals may need to pay advance tax if they have additional income that is not fully covered by TDS, such as profits from the sale of stocks, cryptocurrency gains, and rental income.
However, resident senior citizens, who are aged 60 years or above and do not have business or professional income, are not required to pay advance tax.
How to pay advance tax?
One can pay advance tax through the official website of the Income Tax Department website. (Direct link: https://www.incometax.gov.in/iec/foportal/)
Some people may be confused whether the portal for advance tax payment will be working on a weekend or not. The Income Tax Department e-filing portal works on Sundays, allowing you to clear your dues round the clock.
Since 15 March deadline falls on a Sunday in 2026, a taxpayer can comfortably make your payment online. The portal remains operational, and payments can also be made on public holidays.
Catch LIVE Updates on advance tax deadline in India with Mint
About the Author
