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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Taxpayers with over 10,000 advance tax obligation must pay in installments; companies: 4, others: 3. Section 206.</h1> Every taxpayer with advance income tax exceeding ten thousand rupees is required to pay it during the financial year. The tax is calculated by estimating total income, applying current rates, and deducting tax deductible or collectible at source and credits allowed under section 206. Companies pay in four installments: 15% by June 15, 45% by September 15, 75% by December 15, and the full amount by March 15. Other taxpayers pay in three installments: 30% by September 15, 60% by December 15, and the full amount by March 15. Adjustments can be made based on income estimates, and payments made after March 15 but before the financial year ends are considered as paid within the year.
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