Advance Tax
Advance tax deadline today: What happens if you miss the 15 December payment? What's the penalty?
The third advance tax instalment for FY 2025-26 is due on 15 December 2025. Taxpayers with a liability over ₹10,000 must pay on time to avoid interest. Here's everything you need to know about the rules in case you miss the deadline.
2 min read15 Dec 2025ITR advance tax deadline 2025: Key dates to step-by-step guide to pay — All you need to know before 15 December due date
ITR advance tax deadline 2025: From Key dates, tax calculation to a step-by-step guide on how to pay the partial tax payment for the financial year. Here's all you need to know before the 15 December due date.
3 min read14 Dec 2025Parliament approves new Income Tax Bill 2025, set to replace 1961 Act after six decades
India's Parliament has passed the Income Tax Bill, 2025, set to replace the 1961 Act. The new bill aims to modernize tax laws without changing rates, simplifying terms and reducing complexity. It will likely take effect on April 1, 2026, after receiving presidential assent.
2 min read12 Aug 2025New I-T Bill: Finance Ministry clarifies interest on advance tax shortfall — check revision here
The Finance Ministry has notified a corrigendum to the new Income-Tax Bill 2025, which introduces a 3 per cent interest on short advance tax payments, aligning it with the Income Tax Act, 1961. Here's what you need to know.
1 min read12 Aug 2025Income tax hack: Do this by 31 March to avoid interest on advance tax shortfall
Missing advance tax deadlines can lead to unnecessary interest charges. A simple declaration to your employer can help salaried individuals save money and stay tax-compliant—here's how
3 min read18 Mar 2025Advance tax: Here's how to calculate and pay your final instalment for the fiscal year
Except for some senior citizens, advance tax must be paid by all assessees, including NRIs, if the tax payable is ₹10,000 or more. Read on to avoid paying fines in the form of interest.
5 min read11 Mar 2025Budget 2025: Citizens Urge FM To Cut Income Tax; Increase Slabs & Slash GST On Daily Groceries
In this special episode of pre-budget series, MINT goes on the ground and talks about taxe burden on the middle class Inflation. How high tax rates, GST on daily households is troubling the middle class & how their expenses have sky rocketed in the last few months. Savings are decreasing every month because of high taxes. How are they dealing with the situation and what can the finance minister do to tackle the crisis in the budget 2025. #budget2025 #inflation #mehengai #groceries #shopping #middleclass #rich #poor #narendramodi #news #nirmalasitharaman #rupee #money #abhinavtrivedi #billionaire #taxcuts #incometax #gst #taxrates #taxslabs #tds #standarddeduction #millionaire #election #share #stockmarket #mint #business #smallbusiness #education #india #incometax #incomegrowth #salary #increment #jobs #unemployment #taxes #taxMintMint
31 Jan 2025India should take cues from Piketty on enlarging its tax mop-up
As old tax sources plateau, we need new avenues of taxation. A progressive luxury tax—say on houses priced over ₹10 crore and business-class air travel—can be explored, even as UPI data trails are tracked to assess tax liability.
4 min read9 Jan 2025Inequality woes: Don't dismiss Piketty's advice for India on tax policy
The country has all but embraced the low-tax formula of Reaganomics, but it may now be time to address a crisis of worsening inequality. Thomas Piketty's arguments deserve a hearing.
4 min read23 Dec 2024ITR advance tax deadline today: Who all should pay these taxes? All you need to know
Salaried individuals are also required to pay advance tax if their estimated liability after accounting for TDS (Tax Deducted at Source) exceeds ₹10,000 in a financial year.
2 min read15 Dec 2024