Advance Tax Reminder – Due Date 15 June 2026
Advance Tax – 1st Installment Due
The 1st installment of Advance Tax for Tax Year 2026–27 is due on 15 June 2026.
As per the Income-tax Act, Advance Tax is payable where the total tax liability for the year exceeds ?10,000. Failure to pay the correct amount within due dates may attract:
- Interest under Section 424
- Interest under Section 425
- Additional compliance burden at year end
Who Should Review Advance Tax Liability?
- Individuals having business or professional income
- Partners / Directors receiving remuneration
- Persons with capital gains
- Individuals earning rental income
- Interest income / other taxable income
- Companies and Firms
Information Required for Computation Kindly keep the following details ready:
- Estimated turnover / receipts till date
- Estimated profit for Tax Year (FY) 2026–27
- Capital gains (if any)
- Other income (interest, rent, etc.)
- TDS deducted till date
- Earlier advance tax paid (if any)
Timely review ensures proper tax planning and avoidance of interest liability.
Action Required
Clients are requested to share updated financial figures at the earliest to enable computation and payment before the due date.
For assistance, please contact our office.
Rakesh Ashok & Co.
Chartered Accountants,