{"id":6396,"date":"2023-05-04T10:55:37","date_gmt":"2023-05-04T05:25:37","guid":{"rendered":"https:\/\/razorpay.com\/learn\/?p=6396"},"modified":"2024-05-24T16:30:18","modified_gmt":"2024-05-24T11:00:18","slug":"how-to-pay-advance-tax-online","status":"publish","type":"post","link":"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/","title":{"rendered":"How To Pay Advance Tax Online &#8211; Advance Tax Payment"},"content":{"rendered":"<p>Advance tax payment is a system where taxpayers pay a part of their tax liability before the end of the fiscal year.<\/p>\n<p>The advance tax payment system eases the burden of paying taxes in a lumpsum at the end of the year, and gives the government a steady flow of income through the year.<\/p>\n<p>Understanding advance tax is important for anybody paying more than Rs 10,000 in taxes for one fiscal year. This blog is a one-stop guide to everything you need to know about advance tax.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d1609b42e8a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d1609b42e8a\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#What-is-Advance-Tax-Payment\" >What is Advance Tax Payment?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Who-Has-to-Pay-Advance-Tax\" >Who Has to Pay Advance Tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Advance-Tax-Payment-Due-Dates\" >Advance Tax Payment Due Dates<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Advance-Tax-Payment-Due-Dates-for-Companies\" >Advance Tax Payment Due Dates for Companies<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Advance-Tax-Payment-Due-dates-for-Individuals\" >Advance Tax Payment Due dates for Individuals<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#How-to-Calculate-Advance-Tax-Dues\" >How to Calculate Advance Tax Dues?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Income-Tax-Department-%E2%80%93-Advance-Tax-Calculator\" >Income Tax Department &#8211; Advance Tax Calculator<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Advance-Tax-Manual-Calculation\" >Advance Tax Manual Calculation<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Example-for-Advance-Tax-Calculation\" >Example for Advance Tax Calculation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#How-to-Pay-Advance-Tax-Online\" >How to Pay Advance Tax Online?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#What-is-Advance-Tax-Late-Payment-Interest\" >What is Advance Tax Late Payment Interest?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Advance-Tax-Payment-Refund\" >Advance Tax Payment Refund<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Advance-Tax-Payment-%E2%80%93-Benefits\" >Advance Tax Payment &#8211; Benefits<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#How-to-Pay-Advance-Tax-Online-With-RazorpayX\" >How to Pay Advance Tax Online With RazorpayX<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/razorpay.com\/learn\/business-banking\/how-to-pay-advance-tax-online\/#Frequently-Asked-Questions\" >Frequently Asked Questions<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What-is-Advance-Tax-Payment\"><\/span><b>What is Advance Tax Payment?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Advance tax payment, or the pay-as-you-earn tax is applicable only for taxpayers who pay more than Rs 10,000 as taxes in one fiscal year.<\/p>\n<p><span style=\"font-weight: 400;\">It is also called \u201cpay as you earn\u201d tax since the payment is made as the salary is earned through the year.\u00a0<\/span><\/p>\n<p>Advance tax can be paid offline or online.<\/p>\n<p><span style=\"font-weight: 400;\">The <a href=\"https:\/\/www.protean-tinpan.com\/authorized-banks.html\" target=\"_blank\" rel=\"noopener\">Income Tax Department has authorised<\/a> the branches of several banks to receive offline advance tax payments on behalf of the government.<\/span><\/p>\n<p>Alternatively, the online route is much easier, convenient and accessible.<\/p>\n<p style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/tax-payments\/?r=blog_cta_business_banking_pay_advance_tax_online&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">How to Pay Advance Tax Online<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Who-Has-to-Pay-Advance-Tax\"><\/span><span data-offset-key=\"cktfm-66-0\">Who<\/span><span data-offset-key=\"cktfm-67-0\"> Has to <\/span><span data-offset-key=\"cktfm-71-0\">Pay<\/span><span data-offset-key=\"cktfm-72-0\"> Advance<\/span><span data-offset-key=\"cktfm-73-0\"> Tax<\/span><span data-offset-key=\"cktfm-74-0\">?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Any taxpayer who is liable to pay more than Rs 10,000 in taxes in a year has to pay advance taxes.<\/p>\n<p>This includes individuals, HUF, companies, or associations that earn enough to pay Rs 10,000 in taxes in one year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Advance-Tax-Payment-Due-Dates\"><\/span><b>Advance Tax Payment Due Dates<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Apart from knowing <\/span>how to pay advance tax online, <span style=\"font-weight: 400;\">you must also remember the due dates for payment of advance tax for companies and individuals.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Advance-Tax-Payment-Due-Dates-for-Companies\"><\/span><strong>Advance Tax Payment Due Dates for Companies<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table>\n<tbody>\n<tr>\n<td><b>Sl. No.<\/b><\/td>\n<td><b>Amount of tax payable<\/b><\/td>\n<td><b>Due date for Tax Instalment<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1<\/span><\/td>\n<td><span style=\"font-weight: 400;\">At least 15% of advance tax liability<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Either on or before 15<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> June<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2<\/span><\/td>\n<td><span style=\"font-weight: 400;\">At least 45% of advance tax liability<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Either on or before 15<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> September<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3<\/span><\/td>\n<td><span style=\"font-weight: 400;\">At least 75% of advance tax liability<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Either on or before 15<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> December<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">4<\/span><\/td>\n<td><span style=\"font-weight: 400;\">100% of advance tax liability<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Either on or before 15<\/span><span style=\"font-weight: 400;\">th<\/span><span style=\"font-weight: 400;\"> March<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"Advance-Tax-Payment-Due-dates-for-Individuals\"><\/span><strong>Advance Tax Payment Due dates for Individuals<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table>\n<tbody>\n<tr>\n<td><strong>Sl.No.<\/strong><\/td>\n<td><strong>Amount of tax payable<\/strong><\/td>\n<td><strong>Due date for Tax Instalment<\/strong><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">1.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">At least 15% of advance tax liability<\/span><\/td>\n<td><span style=\"font-weight: 400;\"> Either on or before 15th June<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">2.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">At least 45% of advance tax liability<\/span><\/td>\n<td><span style=\"font-weight: 400;\"> Either on or before 15th September<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">3.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">100% of advance tax liability<\/span><\/td>\n<td><span style=\"font-weight: 400;\"> Either on or before 15th March<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"How-to-Calculate-Advance-Tax-Dues\"><\/span><b>How to Calculate Advance Tax Dues?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h4><span class=\"ez-toc-section\" id=\"Income-Tax-Department-%E2%80%93-Advance-Tax-Calculator\"><\/span>Income Tax Department &#8211; Advance Tax Calculator<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p>Depending on income source, nature of income, tax deductions and exemptions, calculating the actual amount of advance tax due to be paid can be a complicated process.<\/p>\n<p>The Income Tax Department has a calculator to help you know exactly how much advance tax you are due to pay. <span style=\"font-weight: 400;\"> Just fill in the various required fields on the calculator with your details to compute your taxes.\u00a0<\/span><\/p>\n<p style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/www.incometaxindia.gov.in\/pages\/tools\/advance-tax-calculator.aspx\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Advance Tax Calculator<\/a><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Advance-Tax-Manual-Calculation\"><\/span>Advance Tax Manual Calculation<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">You can also compute advance tax liability manually using these steps.<\/span><\/p>\n<p><b>Step 1:<\/b><span style=\"font-weight: 400;\"> Determine earnings for a given year.<\/span><\/p>\n<p><b>Step 2:<\/b><span style=\"font-weight: 400;\"> Calculate gross taxable earnings for a given year.<\/span><\/p>\n<p><b>Step 3:<\/b><span style=\"font-weight: 400;\"> Calculate the payable tax amount according to the applicable tax slab.<\/span><\/p>\n<p><b>Step 4:<\/b><span style=\"font-weight: 400;\"> Now, subtract the TDS amount that is deducted or the TDS, which will be deducted as per the tax slabs for different earnings.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the tax liability at any time after the deduction of TDS exceeds Rs.10,000, they should adhere to the advance tax payment guidelines.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Example-for-Advance-Tax-Calculation\"><\/span>Example for Advance Tax Calculation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-offset-key=\"a0r8s-9-0\">Let<\/span><span data-offset-key=\"a0r8s-10-0\"> us<\/span><span data-offset-key=\"a0r8s-11-0\"> assume<\/span><span data-offset-key=\"a0r8s-12-0\"> that<\/span><span data-offset-key=\"a0r8s-13-0\"> Mr<\/span><span data-offset-key=\"a0r8s-15-0\"> Sharma has an annual<\/span><span data-offset-key=\"a0r8s-26-0\">\u00a0income<\/span><span data-offset-key=\"a0r8s-27-0\"> of<\/span><span data-offset-key=\"a0r8s-28-0\"> Rs<\/span><span data-offset-key=\"a0r8s-29-0\">.<\/span><span data-offset-key=\"a0r8s-30-0\"> 10<\/span><span data-offset-key=\"a0r8s-31-0\">,<\/span><span data-offset-key=\"a0r8s-32-0\">00<\/span><span data-offset-key=\"a0r8s-33-0\">,<\/span><span data-offset-key=\"a0r8s-34-0\">000.<\/span><\/p>\n<p>Here is the advance tax calculation for Mr Sharma.<\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>Income<\/strong><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Gross Income<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 10,00,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">(Expenses)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs (1,00,000)<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Balance<\/b><\/td>\n<td><b>Rs 9,00,000<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Fixed Deposit Interest<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 50,000<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Gross Total Income<\/b><\/td>\n<td><b>Rs 8,50,000<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">PPF Contribution<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs (10,000)<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">LIC Premium<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs (5,000)<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Medical Insurance<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs (5,000)<\/span><\/td>\n<\/tr>\n<tr>\n<td><strong>Balance<\/strong><\/td>\n<td><\/td>\n<td><b>8,40,000<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><\/td>\n<td><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Payable Tax<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 53,040<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Education Cess<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs 1,684<\/span><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><b>Total Tax<\/b><\/td>\n<td><b>Rs 54,724<\/b><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">TDS<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Rs (20,000)<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Advance Tax to be Paid (Total Tax- TDS)<\/b><\/td>\n<td><\/td>\n<td><b>Rs 34,724<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"How-to-Pay-Advance-Tax-Online\"><\/span><b>How to Pay Advance Tax Online?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Follow these steps after visiting the e-payment facility on the official web portal of the Income Tax Department:<\/span><\/p>\n<p><b>Step 1:<\/b><span style=\"font-weight: 400;\"> Select the option for tax applicable as &#8211; (0020) Corporation Tax (Companies).<\/span><\/p>\n<p><b>Step 2:<\/b><span style=\"font-weight: 400;\"> Choose the type of payment as &#8211; (100) Advance Tax.<\/span><\/p>\n<p><b>Step 3:<\/b><span style=\"font-weight: 400;\"> Select your preferred month of payment.<\/span><\/p>\n<p><b>Step 4:<\/b><span style=\"font-weight: 400;\"> Input PAN, Assessment Year, email address, contact number, address, and other necessary details. Then select Proceed. After you do that, the page will redirect you to a <a href=\"https:\/\/razorpay.com\/payment-gateway\/\">payment gateway<\/a> or a net banking page, based on your payment mode.<\/span><\/p>\n<p><b>Step 5:<\/b><span style=\"font-weight: 400;\"> Make the payment. Save a copy of the payment challan for when you\u2019re filing the ITR for your business.<\/span><\/p>\n<div class=\"group w-full text-gray-800 dark:text-gray-100 border-b border-black\/10 dark:border-gray-900\/50 dark:bg-gray-800\">\n<div class=\"text-base gap-4 md:gap-6 md:max-w-2xl lg:max-w-xl xl:max-w-3xl p-4 md:py-6 flex lg:px-0 m-auto\">\n<div class=\"relative flex w-[calc(100%-50px)] flex-col gap-1 md:gap-3 lg:w-[calc(100%-115px)]\">\n<div class=\"flex flex-grow flex-col gap-3\">\n<h2 class=\"min-h-[20px] flex flex-col items-start gap-4 whitespace-pre-wrap break-words\"><span class=\"ez-toc-section\" id=\"What-is-Advance-Tax-Late-Payment-Interest\"><\/span>What is Advance Tax Late Payment Interest?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group w-full text-gray-800 dark:text-gray-100 border-b border-black\/10 dark:border-gray-900\/50 bg-gray-50 dark:bg-[#444654]\">\n<div class=\"text-base gap-4 md:gap-6 md:max-w-2xl lg:max-w-xl xl:max-w-3xl p-4 md:py-6 flex lg:px-0 m-auto\">\n<div class=\"relative flex w-[calc(100%-50px)] flex-col gap-1 md:gap-3 lg:w-[calc(100%-115px)]\">\n<div class=\"flex flex-grow flex-col gap-3\">\n<div class=\"min-h-[20px] flex flex-col items-start gap-4 whitespace-pre-wrap break-words\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p>If a taxpayer fails to pay the advance tax instalment on time, they are liable to pay an interest penalty under Section 234B and Section 234C of the Income Tax Act.<\/p>\n<p>Interest is calculated at the rate of 1% per month or part thereof for the period of delay, and it is calculated on the amount of tax that is unpaid.<\/p>\n<p>Section 234B of the Income Tax Act deals with the interest penalty that is charged for non-payment or short payment of advance tax. This interest penalty is levied if the taxpayer has not paid at least 90% of the assessed tax liability by the end of the financial year.<\/p>\n<p>Section 234C of the Income Tax Act deals with the interest penalty that is charged for delay in the payment of advance tax instalments. This interest penalty is levied if the taxpayer has not paid the required instalment of advance tax by the due date.<\/p>\n<p>It is important for taxpayers to pay their advance tax on time to avoid any interest penalties or other legal consequences.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Advance-Tax-Payment-Refund\"><\/span>Advance Tax Payment Refund<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span data-offset-key=\"fr79i-8-0\">Ad<\/span><span data-offset-key=\"fr79i-9-0\">vance<\/span><span data-offset-key=\"fr79i-10-0\"> Tax<\/span><span data-offset-key=\"fr79i-11-0\"> Payment<\/span><span data-offset-key=\"fr79i-12-0\"> Ref<\/span><span data-offset-key=\"fr79i-13-0\">und<\/span><span data-offset-key=\"fr79i-14-0\"> is<\/span><span data-offset-key=\"fr79i-15-0\"> a<\/span><span data-offset-key=\"fr79i-16-0\"> refund<\/span><span data-offset-key=\"fr79i-17-0\"> of<\/span><span data-offset-key=\"fr79i-18-0\"> any<\/span><span data-offset-key=\"fr79i-19-0\"> over<\/span><span data-offset-key=\"fr79i-20-0\">payment<\/span><span data-offset-key=\"fr79i-21-0\"> of<\/span><span data-offset-key=\"fr79i-22-0\"> advance<\/span><span data-offset-key=\"fr79i-23-0\"> tax<\/span><span data-offset-key=\"fr79i-24-0\">.<\/span><span data-offset-key=\"fr79i-25-0\"> Let&#8217;s have a look at how you can claim your refund.<\/span><\/p>\n<p><span data-offset-key=\"63s4t-10-0\">1<\/span><span data-offset-key=\"63s4t-11-0\">.<\/span><span data-offset-key=\"63s4t-12-0\"> Log<\/span><span data-offset-key=\"63s4t-13-0\"> in<\/span><span data-offset-key=\"63s4t-14-0\"> to<\/span><span data-offset-key=\"63s4t-15-0\"> your<\/span><span data-offset-key=\"63s4t-16-0\"> online<\/span><span data-offset-key=\"63s4t-17-0\"> banking<\/span><span data-offset-key=\"63s4t-18-0\"> account<\/span><span data-offset-key=\"63s4t-19-0\"> or<\/span><span data-offset-key=\"63s4t-20-0\"> visit<\/span><span data-offset-key=\"63s4t-21-0\"> your<\/span><span data-offset-key=\"63s4t-22-0\"> local<\/span><span data-offset-key=\"63s4t-23-0\"> bank<\/span><span data-offset-key=\"63s4t-24-0\"> branch<\/span><span data-offset-key=\"63s4t-25-0\">.<\/span><\/p>\n<p><span data-offset-key=\"63s4t-28-0\">2<\/span><span data-offset-key=\"63s4t-29-0\">.<\/span><span data-offset-key=\"63s4t-30-0\"> Download<\/span><span data-offset-key=\"63s4t-31-0\"> the<\/span><span data-offset-key=\"63s4t-32-0\"> Advance<\/span><span data-offset-key=\"63s4t-33-0\"> Tax<\/span><span data-offset-key=\"63s4t-34-0\"> Payment<\/span><span data-offset-key=\"63s4t-35-0\"> Ref<\/span><span data-offset-key=\"63s4t-36-0\">und<\/span><span data-offset-key=\"63s4t-37-0\"> Form<\/span><span data-offset-key=\"63s4t-38-0\"> from<\/span><span data-offset-key=\"63s4t-39-0\"> the<\/span><span data-offset-key=\"63s4t-40-0\"> Income<\/span><span data-offset-key=\"63s4t-41-0\"> Tax<\/span><span data-offset-key=\"63s4t-42-0\"> Department<\/span><span data-offset-key=\"63s4t-43-0\">&#8216;s<\/span><span data-offset-key=\"63s4t-44-0\"> website<\/span><span data-offset-key=\"63s4t-45-0\">.<\/span><\/p>\n<p><span data-offset-key=\"63s4t-48-0\">3<\/span><span data-offset-key=\"63s4t-49-0\">.<\/span><span data-offset-key=\"63s4t-50-0\"> Fill<\/span><span data-offset-key=\"63s4t-51-0\"> out<\/span><span data-offset-key=\"63s4t-52-0\"> the<\/span><span data-offset-key=\"63s4t-53-0\"> form<\/span><span data-offset-key=\"63s4t-54-0\"> and<\/span><span data-offset-key=\"63s4t-55-0\"> provide<\/span><span data-offset-key=\"63s4t-56-0\"> all<\/span><span data-offset-key=\"63s4t-57-0\"> the<\/span><span data-offset-key=\"63s4t-58-0\"> required<\/span><span data-offset-key=\"63s4t-59-0\"> details<\/span><span data-offset-key=\"63s4t-60-0\"> like<\/span><span data-offset-key=\"63s4t-61-0\"> your<\/span><span data-offset-key=\"63s4t-62-0\"> PAN<\/span><span data-offset-key=\"63s4t-63-0\"> number<\/span><span data-offset-key=\"63s4t-64-0\">,<\/span><span data-offset-key=\"63s4t-65-0\"> the<\/span><span data-offset-key=\"63s4t-66-0\"> amount<\/span><span data-offset-key=\"63s4t-67-0\"> of<\/span><span data-offset-key=\"63s4t-68-0\"> advance<\/span><span data-offset-key=\"63s4t-69-0\"> tax<\/span><span data-offset-key=\"63s4t-70-0\"> paid<\/span><span data-offset-key=\"63s4t-71-0\">,<\/span><span data-offset-key=\"63s4t-72-0\"> the<\/span><span data-offset-key=\"63s4t-73-0\"> assessment<\/span><span data-offset-key=\"63s4t-74-0\"> year<\/span><span data-offset-key=\"63s4t-75-0\">,<\/span><span data-offset-key=\"63s4t-76-0\"> etc<\/span><span data-offset-key=\"63s4t-77-0\">.<\/span><\/p>\n<p><span data-offset-key=\"63s4t-80-0\">4<\/span><span data-offset-key=\"63s4t-81-0\">.<\/span><span data-offset-key=\"63s4t-82-0\"> Submit<\/span><span data-offset-key=\"63s4t-83-0\"> the<\/span><span data-offset-key=\"63s4t-84-0\"> form<\/span><span data-offset-key=\"63s4t-85-0\"> to<\/span><span data-offset-key=\"63s4t-86-0\"> your<\/span><span data-offset-key=\"63s4t-87-0\"> bank<\/span><span data-offset-key=\"63s4t-88-0\">,<\/span><span data-offset-key=\"63s4t-89-0\"> along<\/span><span data-offset-key=\"63s4t-90-0\"> with<\/span><span data-offset-key=\"63s4t-91-0\"> any<\/span><span data-offset-key=\"63s4t-92-0\"> other<\/span><span data-offset-key=\"63s4t-93-0\"> documents<\/span><span data-offset-key=\"63s4t-94-0\"> required<\/span><span data-offset-key=\"63s4t-95-0\">.<\/span><\/p>\n<p><span data-offset-key=\"63s4t-98-0\">5<\/span><span data-offset-key=\"63s4t-99-0\">.<\/span><span data-offset-key=\"63s4t-100-0\"> The<\/span><span data-offset-key=\"63s4t-101-0\"> bank<\/span><span data-offset-key=\"63s4t-102-0\"> will<\/span><span data-offset-key=\"63s4t-103-0\"> verify<\/span><span data-offset-key=\"63s4t-104-0\"> the<\/span><span data-offset-key=\"63s4t-105-0\"> information<\/span><span data-offset-key=\"63s4t-106-0\"> and<\/span><span data-offset-key=\"63s4t-107-0\"> initiate<\/span><span data-offset-key=\"63s4t-108-0\"> the<\/span><span data-offset-key=\"63s4t-109-0\"> refund<\/span><span data-offset-key=\"63s4t-110-0\"> process<\/span><span data-offset-key=\"63s4t-111-0\">.<\/span><\/p>\n<p><span data-offset-key=\"63s4t-114-0\">6<\/span><span data-offset-key=\"63s4t-115-0\">.<\/span><span data-offset-key=\"63s4t-116-0\"> You<\/span><span data-offset-key=\"63s4t-117-0\"> may<\/span><span data-offset-key=\"63s4t-118-0\"> receive<\/span><span data-offset-key=\"63s4t-119-0\"> the<\/span><span data-offset-key=\"63s4t-120-0\"> refund<\/span><span data-offset-key=\"63s4t-121-0\"> amount<\/span><span data-offset-key=\"63s4t-122-0\"> in<\/span><span data-offset-key=\"63s4t-123-0\"> your<\/span><span data-offset-key=\"63s4t-124-0\"> bank<\/span><span data-offset-key=\"63s4t-125-0\"> account<\/span><span data-offset-key=\"63s4t-126-0\"> within<\/span><span data-offset-key=\"63s4t-127-0\"> a<\/span><span data-offset-key=\"63s4t-128-0\"> few<\/span><span data-offset-key=\"63s4t-129-0\"> days<\/span><span data-offset-key=\"63s4t-130-0\">.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Advance-Tax-Payment-%E2%80%93-Benefits\"><\/span><span data-offset-key=\"4k4nl-0-0\">Ad<\/span><span data-offset-key=\"4k4nl-1-0\">vance<\/span><span data-offset-key=\"4k4nl-2-0\"> Tax<\/span><span data-offset-key=\"4k4nl-3-0\"> Payment<\/span><span data-offset-key=\"4k4nl-4-0\"> &#8211;<\/span><span data-offset-key=\"4k4nl-5-0\"> Benefits<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>To taxpayers, advance tax is a way to reduce the burden of paying taxes in a lumpsum at the end of the year. It also helps taxpayers avoid fines and penalties by missing the final payment of taxes. The risk of not being able to pay taxes at the end of the year due to shortage of money is also reduced significantly.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"How-to-Pay-Advance-Tax-Online-With-RazorpayX\"><\/span><b>How to Pay Advance Tax Online With RazorpayX<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Paying advance tax through government portals can be quite stressful. Slow, laggy government portals are a big reason individuals and business owners avoid paying taxes on time.\u00a0<\/span><\/p>\n<p>Luckily, there are a number of solutions on the market that make advance tax payments smooth. One such solution is\u00a0<span style=\"font-weight: 400;\"><a href=\"https:\/\/razorpay.com\/x\/tax-payments\/?r=blog_cta_business_banking_advance_tax&amp;utm_source=blog&amp;utm_medium=cta\">RazorpayX Tax Payments.<\/a><\/span><\/p>\n<p style=\"text-align: center;\"><strong>Read more: <a href=\"https:\/\/razorpay.com\/blog\/business-banking\/getting-started-with-razorpayx-advance-tax-payments\/\">Guide to RazorpayX Advance Tax Payment<\/a><\/strong><\/p>\n<p><iframe title=\"YouTube video player\" src=\"https:\/\/www.youtube.com\/embed\/vrgMUU3HT14\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><b>Step 1<\/b><span style=\"font-weight: 400;\">: Set up your advance tax by logging into your RazorpayX dashboard, selecting \u201ctax payments\u201d from the menu and heading to the \u201cAdvance Tax\u201d tab. Then, enter your basic business details.<\/span><\/p>\n<p><b><\/b><b style=\"font-size: 19px;\">Step 2<\/b><span style=\"font-weight: 400;\">: To make the payment, click on \u201c <strong>+ Advance Tax<\/strong>\u201d in the Advance Tax tab and confirm your details in the \u201cAdding Filing Details\u201d window. Click \u201c<strong>Next<\/strong>\u201d to proceed.<\/span><b><br \/>\n<\/b><\/p>\n<p><b>Step 3<\/b><span style=\"font-weight: 400;\">: Add the amount of tax that you need to pay. You can input a detailed break-up of the tax amount payable using the \u201cShow all fields\u201d menu.<\/span><\/p>\n<p><b>Step 4<\/b><span style=\"font-weight: 400;\">: Click on \u201cPay Now\u201d to proceed with the payment, or \u201cSave Payment\u201d in case you want to get back to the payment later.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you want to \u201cPay Now\u201d, just enter the OTP and complete the payment.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you select \u201cSave Payment\u201d then enter the OTP for verification, and click CREATE PAYOUT to save the payout. The payout is created and can be seen on the Advance Tax screen.<\/span><\/li>\n<\/ul>\n<p>Once you&#8217;re done, you can view the challan, too.<\/p>\n<p><span style=\"font-weight: 400;\">Don\u2019t miss out on the smoothest tax payments experience in town. Check out RazorpayX Tax Payments.<\/span><\/p>\n<div style=\"text-align: center;\"><a style=\"border-radius: 3px; background: #528FF0; padding: 15px; font-weight: 600; cursor: pointer; text-decoration: none; color: white;\" href=\"https:\/\/razorpay.com\/x\/tax-payments\/?r=blog_cta_business_banking_advance_tax&amp;utm_source=blog&amp;utm_medium=cta\" target=\"_blank\" rel=\"noopener\" data-schema-attribute=\"\">Pay Advance Tax Now<\/a><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently-Asked-Questions\"><\/span><b>Frequently Asked Questions<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t\t<div id=\"rank-math-rich-snippet-wrapper\" class=\"\">\n\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\n","protected":false},"excerpt":{"rendered":"<p>Paying advance tax is simple. If you&#8217;re trying to figure out how to pay advance tax online for your business, then check out this handy guide.<\/p>\n","protected":false},"author":151156539,"featured_media":6410,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3437],"tags":[3618,3581,3587],"class_list":{"0":"post-6396","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banking","8":"tag-advance-tax","9":"tag-business-banking","10":"tag-tax-payments"},"_links":{"self":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/6396","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/users\/151156539"}],"replies":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/comments?post=6396"}],"version-history":[{"count":20,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/6396\/revisions"}],"predecessor-version":[{"id":10966,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/posts\/6396\/revisions\/10966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media\/6410"}],"wp:attachment":[{"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/media?parent=6396"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/categories?post=6396"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/learn.razorpay.in\/learn\/wp-json\/wp\/v2\/tags?post=6396"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}