Advance Income Tax 2024: Last Instalment Deadline On March 15

The Income Tax Department urges all taxpayers to settle their advance tax dues before the deadline.

Today, March 15, 2024, marks the final deadline for taxpayers in India to settle their fourth and final installment of advance tax for the financial year 2023-24. Missing this deadline can result in penalties and interest charges.

Advance tax allows taxpayers to spread out their income tax payments throughout the year, rather than paying a large sum at the end of the financial year. This system ensures a steady flow of tax revenue for the government.

Who Needs to Pay Advance Tax?