CA Sansaar
Advance Tax Deadline Today for Non-Salary Income Earners
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The third instalment of advance tax for the financial year 2025–26 (assessment year 2026–27) falls due on December 15. Taxpayers whose total tax outgo for the year is more than Rs 10,000 are mandated to discharge their tax liability in advance through prescribed instalments.
“The December 15 advance tax deadline is a key milestone, as taxpayers are expected to have paid at least 75 per cent of their total estimated tax liability for the financial year by this date.
Advance tax is applicable to all taxpayers—salaried as well as non-salaried—whose estimated tax liability, after adjusting tax deducted at source (TDS), is Rs 10,000 or above. Although salaried individuals usually fulfill this requirement through regular TDS deductions, advance tax becomes payable when such deductions are insufficient.
However, resident senior citizens aged 60 years and above, who do not earn income from business or profession, are exempt from the obligation to pay advance tax.
“The December 15 advance tax deadline is a key milestone, as taxpayers are expected to have paid at least 75 per cent of their total estimated tax liability for the financial year by this date.
Advance tax is applicable to all taxpayers—salaried as well as non-salaried—whose estimated tax liability, after adjusting tax deducted at source (TDS), is Rs 10,000 or above. Although salaried individuals usually fulfill this requirement through regular TDS deductions, advance tax becomes payable when such deductions are insufficient.
However, resident senior citizens aged 60 years and above, who do not earn income from business or profession, are exempt from the obligation to pay advance tax.
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