Tax advisory

Advance tax meaning for indian taxpayers and businesses.

Advance tax is current-income tax paid during the tax year before return filing. For Tax Year 2026-27 under sections 403 to 408 of the Income-tax Act, 2025, compute one taxpayer's full-year tax using the applicable individual regime or entity provisions, special-rate income, supported deductions, eligible losses, rebate or relief, surcharge, cess, and qualifying tax deductible or collectible at source. The general liability threshold is net advance tax of Rs 10,000 or more, subject to the exception for a resident individual aged 60 or more during the tax year who has no income from business or profession, and the narrow section 58(2), Table Sl. No. 1 or 3 presumptive path. Most liable taxpayers track cumulative minimums of 15%, 45%, 75%, and 100% by 15 June, 15 September, 15 December, and 15 March, revising remaining instalments when facts change. Gross receipts, last year's tax, expected TDS, or a founder label cannot decide liability. FY 2025-26 / AY 2026-27 remains under the 1961 Act even when a later payment or correction occurs after 1 April 2026.