The December installment of Advance tax is required to be paid on or before 15th December, 2013 by the tax payers who are liable to pay advance tax. These taxpayers can make payments in the designated branches of the authorized banks, electronically or physically, as per law. The banks are closed on 15th December, 2013, being a Sunday. Accordingly, to facilitate payment of this installment of Advance tax for the Financial year 2013-14, the Central Board of Direct taxes (CBDT) has issued an order to extend the time limit to make such payments of Advance Tax, from 15th December, 2013 to 17th December, 2013. Taxpayers, therefore, can now pay their advance tax installment by 17th December, 2013 without entailing any consequential interest for deferment.

Advance tax deadline extended for December installment, allowing payment without interest for short deferment due to bank holiday The due date for the December installment of advance tax has been extended from 15th to 17th December to accommodate bank closures; taxpayers may pay at designated branches of authorized banks or electronically, and payments made by the extended date will not attract consequential interest for the deferment.