Key Highlights
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- Subscribe now The advance tax deadline for this quarter falls on 15 December.
- Individuals with income sources beyond salary—such as gains, interest, dividends, or business receipts—must pay tax on these earnings during the year rather than waiting until they file their income tax return.
- Advance tax ensures the government receives tax dues in time, and individuals avoid a large payout or interest penalties.
- An individual whose total tax liability from non-salary income exceeds ₹10,000 after accounting for TDS and TCS must pay it in four instalments.
