New Delhi, March 23 -- It is assumed that you wish to sell an apartment in March 2025, for which payments shall be received in two tranches in separate financial years (FYs) i.e. one in March 2025 (i.e. FY 2024-25) and the balance in FY 2025-26.

It is assumed that you are below 60 years of age and the advance tax provisions are applicable to you.

As per the tax laws, a taxpayer is required to pay advance tax, if tax payable (after taking into account the tax deducted/ collected at source), for a given FY exceeds Rs.10,000. Advance taxes are required to be paid as per the below prescribed instalments during the FY:

* On or before 15th June: Up to 15% of tax payable

* On or before 15 September: Up to 45% of tax payable

* On or before 1...