Under section 408 of the Income-tax Act, 2025, an assessee liable to pay advance tax (other than an…

Under section 408(1) of the Income-tax Act, 2025 (formerly s.211 of the 1961 Act), advance tax is payable in four instalments during the financial year: not less than 15% by 15th June, not less than 45% by 15th September, not less than 75% by 15th December, and the whole amount by 15th March, each as reduced by the earlier instalments. Under section 408(2), an assessee declaring presumptive profits under section 58(2) [Table: Sl. No. 1 or 3] pays the whole advance tax by 15th March. Hence 75% falls due by 15th December; 15th June and 15th September are the dates for the 15% and 45% instalments, and 15th March is the date for the full amount.