Advance Tax Deadline Today: Check How Much You Need To Pay

If you need to pay advance tax for tax year 2026-27, today is an important deadline. The second instalment of advance tax is due on September 15, 2026, and taxpayers need to make the payment by the end of the day. The Income Tax Department has reminded taxpayers about the deadline as part of its latest advisory.

By today, eligible taxpayers should have paid a cumulative 45 per cent of their estimated advance tax liability, after taking the first instalment into account.

Missing the required payment or paying less than the prescribed amount can result in interest. This makes it important to check your estimated tax liability and payment records before the deadline passes.

September Instalment Covers 45 Per Cent of Advance Tax

Typically, advance tax applies when a taxpayer’s estimated tax liability for the financial year is Rs 10,000 or more, after considering applicable tax deducted or collected at source (TDS or TCS). It can apply to salaried individuals as well as professionals, businesses and others with taxable income.

Salaried taxpayers may also need to look at advance tax if they earn income beyond their salary. Interest from bank accounts and fixed deposits (FDs), rental income, capital gains and other sources can create an additional tax liability when the tax already deducted is not enough.

There is an exception for resident senior citizens aged 60 years or above who do not have income from a business or profession. Such taxpayers generally do not have to pay advance tax.

How Much Advance Tax Is Due Today

Advance tax for taxpayers under the regular payment schedule is divided into four instalments during the year. The first instalment, due by June 15, requires payment of at least 15 per cent of the estimated annual advance tax liability.

The second instalment is due today, September 15. By this date, the cumulative payment should reach at least 45 per cent of the estimated annual liability. The next instalment is due by December 15, when cumulative payment should reach 75 per cent.

The final instalment is due by March 15, when the taxpayer is expected to have paid the full advance tax liability.

For instance, if your estimated advance tax liability is Rs 1 lakh and you paid Rs 15,000 in June, your total payment should reach Rs 45,000 today. You would, therefore, need to pay another Rs 30,000 by September 15.

What If You Pay Less Or Miss Today’s Deadline

A shortfall or delay in advance tax payments can attract interest under the Income-tax Act, 2025. Interest for specified defaults is covered under Section 424, while deferment of advance tax instalments is covered under Section 425.

The applicable interest can be 1 per cent for the specified period, depending on the nature of the default. Taxpayers should, therefore, check their advance tax calculation, account for tax already deducted, and make the required payment today.

If your income estimate changes later in the year, the advance tax amount can also be recalculated for subsequent instalments.