How to Pay Advance Tax Online in India?
Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term Plan

Protect Your family’s financial future with Kotak e-Term Plan. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Health Shield

Insurance against medical expenses related to heart, brain, liver and Cancer. Know more

How to Pay Advance Tax Online in India
  • 9th Mar 2021 |
  • 3,033

Advance tax is the tax on income which is paid in advance instead of a lump sum payment at the end of the fiscal year. It is commonly referred to as ‘pay as you earn’ tax. The payments for these taxes have to be made in instalments depending on the due dates that the income tax department has provided.

Advance tax is an efficient way of making tax payments for only those individuals who do not have monthly salaries as their source of income. In the case of salaried individuals, the tax is deducted at source, and so, they do not have to pay advance tax. Money earned through different income sources is applicable for advance tax. This tax can be paid through different banks or online. Let’s see how to pay advance tax online.

How to pay advance tax online in India?

The Income Tax Department of India has made the process of making the Advance Tax payments online easy. They have set up the online facility, and anyone who wishes to make the advance tax payment can simply visit the official website ‘www.tin-nsdl.com’ and follow the listed below steps.

  • On the IT Department’s website, select the e-payment facility.
  • To pay the advance tax, select the correct form. Individuals should choose ITNS 280.
  • Choose the correct code for advance tax; the applicable code number is 100.
  • Fill out your details, such as PAN, name, number, address, email address, etc.
  • The net banking page or debit card payment gateway will be visible once you click on Proceed.
  • Pay the amount shown.
  • After you make the payment, the next screen will give you the receipt called Challan 280. Save a copy and use it while filing ITR.

Now, as the process of paying advance tax online in India is clear, let’s understand who should make this payment.

Who has to pay advance tax?

The eligibility for advance tax is a broad category. If you meet the requirements listed below, you will have to pay advance tax:

1. Self-employed individuals like business-people, freelancers and professionals come under this category.

2. A Non-Resident Indian (NRI) who generates an income more than ₹10,000 in India should pay advance tax.

3. Investors who have earned an income through different investment options like stocks or fixed deposits.

4. Individuals who have earned income from leasing out a property on rent.

5. Any individual who has earned money by winning a lottery.

Individuals who meet the criteria listed above should also check the payment dates for advance tax payments. Since the advance tax is paid in instalments, it is necessary to keep track of the dates to make the payment calculation simpler.

Save Tax Now

The following are the due dates for corporate taxpayers and individuals to pay advance tax:

Instalment due dates Advance tax to be paid
On or prior to 15th June 15% of the advance tax payable
On or prior to 15th September 45% of the tax excluding the last instalment
On or prior to 15th December 75% of the tax excluding the last instalment
On or before 15th March 100% of the tax excluding the last instalment

To calculate advance tax, you must:

1.Determine the income you get other than your salary. It is essential you include agreements which may pay out later.

2.Remove your expenses from the income. Expenses which are related to work can be deducted, like travel expenses, internet etc.

3.Add up the income which you may receive in rent, earnings through interest, etc. Remove the TDS which is excluded from your salaried funds.

4.If the tax due goes above ₹10,000, then you will need to pay advance tax.

While making tax payments may seem a bit tedious, you can get a better idea on how to go about it with the Kotak Life Tax Savings Guide. The tax savings guide includes well-researched information on topics like how to file taxes online, how insurance policies are tax-friendly instruments, etc. With the help of this guide, your tax filing process can be stress-free and simple.

To conclude

An advance tax is paid on income earned through investments, real estate, lottery etc., by non-salaried individuals. It is advisable to calculate the amount for this tax and also, be updated on the dates for making these payments. Paying advance tax online is a simple process in which one can simply visit the official website and fill out the relevant information.

Download Brochure

Features

  • Increasing Life Cover*
  • Guaranteed^ Maturity Benefits
  • Enhanced Protection Through Riders
  • Tax Benefits
  • Dual Benefits: Guaranteed^Maturity + Death benefits

Ref. No. KLI/22-23/E-BB/999

T&C

Browse our library of resources

Download Brochure

Features

  • Enhanced Protection Through Riders
  • Life Cover
  • Tax Savings
  • Multiple Premium Payment Terms
  • Guaranteed @ Loyalty Addion
  • Accrued Guaranteed @ Additions

Ref. No. KLI/22-23/E-BB/490

T&C

- A Consumer Education Initiative series by Kotak Life

Similar Articles

9 Income Tax Myths That Could Cost You Money while Filing returns

What is Form 16A?

How to File Income Tax Return without Form 16

9 Point Guide on how to File Income Tax Return Online

How to View 26AS and Download Form 26AS Online?

How to Check Income Tax Refund Status Online in India

How to Get Form 16?

Section 80G of the Income Tax Act

List of Important Income Tax FAQs

5 Popular Tax-Saving Schemes in India

Tax Structure in India

Income Tax Filing For NRI in India

What To Do If Your TDS Is Not Deposited With The Government?

What is Form 26AS - All You Need To Know

Income Tax Filing Using Multiple Form 16

ITR 2 Form – Complete Guide

धारा 80सी आयकर अधिनियम, 1961

Tax-Savings Investments and Options in India

How to Claim TDS Refund for Excess TDS Deduction?

Budget 2019: Impact on the Common Man in India

How can I get Form 16B from traces?

How to file Form 16 online?

धारा 80डी आयकर अधिनियम, 1961

9 Tax Changes in Budget 2019 that may Impact Your Personal Financial Planning

Investment Proofs You Need Submit To Lower TDS Cut From Your Salary

Income Tax Exemption for Disabled

What is Tax Deduction at Source (TDS)?

Tax Saving for Self Employed in India

What is Section 10D of the Income Tax Act?

What is Section 80C - Explained in Detail

How to File TDS Return?

How to Check Income Tax Refund Status Online in India

Form 16, Form 16A, and Form 16B?

How to Check Income Tax Returns Status Onine?

Role of Life Insurance in Your Financial Portfolio

What is Tax Evasion and What Are The Penalties For Tax Evasion In India?

LTC Cash Voucher Scheme October 2020 – Everything You Need to Know

Why is Form 16 Important?

Section 44AD of Income Tax Act for AY 2020-21

What is the Last ITR Filing Date and Penalty for Late Filing of ITR?

What is HRA (House Rent Allowance) and How is HRA Exemption Calculated?

All about TDS Payment Online & Due Dates

How To Save Tax Better with 80C

Everything You Need to Know About Tax Benefits of National Pension Scheme (NPS)

What is Form 16B?

What is the Difference Direct Tax and Indirect Tax

What Is Advance Tax and How Is It Calculated?

7 Important Things to Remember While Investing in a Savings Investment Plan

Received an Income Tax Notice? Your Guide to Understanding Intimations under Section 143 (1)

What is Section 80CCC of the Income Tax Act 1961

Why January Is an Important Month for Saving Tax?

Tax Benefits of ULIP Plans Available for NRIs

What is Section 80C Deduction Limit?

What are the Tax Benefits of Sukanya Samriddhi Yojana (SSY)?

What is TDS Refund Process?

Why Tax Planning Should Be an All-year Round Activity

Section 80C Deductions as per Income Tax Act, 1961

Income Tax Slabs and Rates in India for FY 2021-22/AY 2022-23

Do Beneficiaries Pay Taxes on Life Insurance?

How to File ITR Online

Difference between Section 80C and 80CCC of the Income Tax Act, 1961

Tax Planning and Tax Benefits of Life Insurance

Income Tax Deduction Under Section 80CCC In India

Tax Benefits for Startups in India

How To Save Tax Using Life Insurance?

How Much Money This Budget 2019 Can Help You Save

How to View 26AS and Download Form 26AS Online

How to e-Verify your Income Tax Return

Income Tax Deductions Under Section 80C

Section 80E: Tax Exemption on Interest on Education Loan

How to File Form 16 for Salaried Employees?

Tax Saving Guide for 2019-20

All about TDS on Salary under Section 192 – Kotak Life

ITR-6: Guide to filing ITR-6 Form online

How to File Income Tax Return for First Time Tax Payers

Financial Planning and Best investment options for Housewives

Understanding Tax Exemptions in ULIP (Old and New)

What are the Different Types of Taxes in India?

Income Tax Exemption for Physically Handicapped Dependent

A Guide to Life Insurance Policy’s Tax Benefits and Taxability

What are Direct Taxes? How to Avoid being Overtaxed?

Financial Benefits and Government Schemes Every Woman in India Should Know

All about Online Income Tax Calculator

A Complete Guide for Filing ITR 3 Form

Guide for Tax Calculation on your Salary

Income Tax Benefits for Doctors

आयकर स्लैब 2021-2022

Tax Saving Options other than Section 80C

52 Weeks Savings Plan: Daily Savings Plans for a Better Tomorrow

How to Download Form 16?

How to e file ITR on Income Tax Government Portal

Presumptive Taxation for Business and Profession

Save Income Tax by 31st March: Here Is a Checklist

Have You Considered Term Insurance a Part of Your Tax Planning?

What is the Difference between Form 16 and Form 16A?

Penalty For Late Filing TDS Return

How to Save Tax on Salary Arrears?

Things to Do After Filing Income Tax Returns

What Investment Options Come with Tax Incentives?

How to Save Income Tax with Insurance

Impact of GST on Life Insurance in India

Tax Season Is Coming- Know How to Save Tax

5 Unusual Investments You Didn't Know for Saving Taxes in India

How to save tax for salaried person?

What is Section 195 of the Income Tax Act? TDS on Non-Residents of India

Tax Exemption and Scope of Coverage

Saving Income tax in 2017 - 18

Tips to plan your savings in 2019

Tax Saving Tips: Best Ways to Save Income Tax for 2021

Guaranteed Return Plans-Why is it a must for you?

Top 8 Tax-Saving Methods in India- Budget Planning

E-Filing of Income Tax Returns in India

Difference between Section 80C, 80CCC, 80CCD & 80D

What is TDS Slab?

Problems People Face with Tax Returns after a Job Change

All You Need to Know About Section 80C

Tax Benefit of Investing in Term Plan

Are Financial Planning and Tax Planning the Same Thing?

Insurance and Endowment: Everything You Need to Know!

A Comprehensive Guide to Understand the ITR 7 Form

Investing Lump Sum Amount

Can You Get Term Insurance Without Income Proof?

When Should TDS be Deducted and Who is Liable to Deduct it?

Section 80D - Medical and Health Insurance Tax Benefits Under Section 80D

What is Salary Protection Insurance and Why You Need It

Income Tax Deductions & Exemptions under Sections 80C, 80D & 80DDB for FY 2020-21 & 2021-22

Types of Riders in Insurance Policy

What is TDS Exemption Limit?

What is ITR 5 Form and How to File ITR 5?

TDS Due Dates of FY 2020-21 For Return Filing

How to File Form 10E for Tax Relief on Salary Arrears?

Pradhan Mantri Suraksha Bima Yojana

Interest Imposed Under Section 234A, 234B and 234C

Tax-Free Income in India

ITR 1: Sahaj Form

How do I Calculate My Term Insurance Premium

Sub-sections Under Section 80C of the Income Tax Act, 1961

What is Section 80C Deduction?

Tax Deductions You MUST Know

How to File Income Tax Return - Everything You Need To Know

What is the TDS Rate on Salary?

What is ITR & How to File Income Tax Return

What is Challan 280? How to Pay your Income Tax Online with Challan 280?

Section 16 of the Income Tax Act (ITA), 1961

Types of Income Tax Return (ITR) Forms

Home Investment Plan to Buy Dream Home

Tax Saving Options for Salaried Employees

Income Tax Deductions for Disabled Person Under Section 80U

Difference Between Gross Income & Total Income in Calculating Income Tax

What is the Percentage of Tax Deducted at Source (TDS)?

Union Budget Highlights – 1st February 2022

Section 10 (10d) of Income Tax Act, 1961 on Payouts of Life Insurance Policy