New Delhi, June 15 -- Last date to pay first instalment of advance tax is June 15 i.e., today. This is mandatory for taxpayers who require an audit under section 44Ab. Income Tax department has shared a post reminding taxpayers about the same. "First instalment of advance tax for FY 2025-26 is due by June 15, 2025. Plan Smart. Pay Advance Tax," reads the post on X.

Failing to pay advance tax is alright so long as the taxpayer files their income tax return by July 31 next year (deadline for this year is Sept 15) and clear their income tax liability along with interest which accrues on account of non payment of advance tax.

Advance tax must be paid in four instalments. The first instalment has to be paid by June 15 when the 15 percent of ...