India advance tax deadline set for September 15

The deadline for the second installment of advance tax for the 2026–27 financial year is September 15. Under the regular installment schedule, taxpayers must ensure their cumulative payments reach 45% of their estimated annual tax liability by this date. This follows the initial 15% payment due on June 15.

Advance tax is mandatory for individuals whose estimated annual tax liability exceeds ₹10,000 after accounting for Tax Deducted at Source (TDS) and Tax Collected at Source (TCS). While many salaried employees assume payroll deductions cover all obligations, they may still be liable if they earn additional income from sources such as bank interest, rental properties, dividends, or capital gains from stock market investments.

Resident senior citizens who do not earn income from a business or profession are generally exempt from these requirements. Taxpayers are encouraged to revise their estimates as income fluctuates, such as when irregular capital gains occur, to ensure subsequent installments remain accurate.