Deadline to pay advance tax ends tomorrow: Here is a step-by-step guide

The income tax laws specify that a certain percentage of advance taxes be discharged on certain specific dates during the year

The month of March has its own significance in many ways. Be it in terms of being considered the last month for making tax saving investments or return filing or discharging taxes due for the year and so on. Amongst these, this month also stands out as crucial for those who must pay taxes in advance or what is called ‘advance taxes’.

Advance taxes are, as the name suggests, advance tax is simply a tax paid in advance. In general, tax return for income earned in the financial year i.e., 12 month period starting on April 1st and ending on