Under section 408 of the Income-tax Act, 2025, the due date of the first instalment of advance tax…

Under section 408(1) of the Income-tax Act, 2025 (formerly s.211 of the Income-tax Act, 1961), every assessee liable to pay advance tax, whether a company or not, pays it in four instalments during the financial year: not less than 15% by 15 June, not less than 45% by 15 September, not less than 75% by 15 December and the whole amount by 15 March, each as reduced by the earlier instalments. The first instalment is therefore due on 15 June. Under section 408(2), an assessee declaring presumptive profits under section 58(2) [Table: Sl. No. 1 or 3] instead pays the whole advance tax by 15 March. 15 September and 15 December are the dates of the second and third instalments, and 15 April is not a due date for advance tax.