Advance Taxes Paid

(This article would guide you on how you can add the advance tax details that you have already paid to ITD.)

In India, the advance tax, also known as “pay as you earn” tax, mandates individuals to estimate their annual income and pay advance tax if their tax liability for the year is expected to be Rs.10,000 or more.

The due dates for advance tax payment installments are, on or before June 15, September 15, December 15, and March 15 of the financial year.

According to Income Tax Act's provisions, non payment of Advance Taxes would attract Interest Charges and Penalties.

Adding Advance Taxes Paid,

You can add the challan details and store the data of the advance tax payments you have made so far, in 3 simple steps,

1. Navigate to Save > Begin/Edit > Tax Credit > Advance Tax > Proceed

2. Enter the following details,

   • Payment Date
   • Tax Paid
   • Challan Serial
   • BSR Code

3. Once you have entered all the details correctly, click on save.

You can check the advance tax added in the Advance Tax Dashboard under Save.