Advance Tax Deadline: Ignoring the June 15 deadline could prove costly. Today is the last day to pay the first installment of advance tax.

Today is the last day to pay taxes.

Advance Tax Deadline: If you earn income from business, freelancing, rent, or investments in addition to your job, today is a crucial day for you. June 15th is the deadline for depositing advance tax for the first quarter of the financial year 2026-27. You mustn't miss this date, or you'll have to pay interest.

What is advance tax?

Advance tax, commonly known as the Pay As You Earn system, means that you pay the tax in installments throughout the year instead of paying it in one lump sum at the end of the year. This rule applies to individuals whose annual tax liability exceeds ₹10,000. However, salaried individuals whose entire tax is deducted through TDS generally do not have to pay advance tax.

Who has to pay advance tax?

• businessman
• Freelancer
• Professionals
• Investors earn from the stock market.
• People earning income from rent or other sources.

What will happen if tax is not paid on time?

If you don't pay advance tax by the due date or you underpay it, the Income Tax Department can charge interest. This interest can significantly increase your tax liability.

How much tax is required to be paid?

A minimum of 15% of the estimated annual tax liability must be deposited by June 15. Subsequent installments are due in September, December, and March.

How to pay advance tax?

You can pay your tax online through the Income Tax Department's portal using net banking, debit card, or other digital means. If you haven't yet paid your advance tax, don't delay. Waiting until the last minute can lead to technical difficulties.