https://www.taxtmi.com/article/detailed?id=1848 Advance tax is payable when assessed tax meets the statutory threshold, with exemptions for certain resident senior citizens and presumptive taxpayers; taxpayers self estimate and pay by prescribed instalments (different schedules for companies and others), may be ordered to pay by the Assessing Officer in Form 28 and may file revised estimates in Form 28A. Interest at a monthly rate applies for failure to pay or for shortfalls, and competent authorities may reduce or waive penal interest in specified circumstances; electronic payment rules and PAN usage apply for certain taxpayers. en-us Fri, 10 Aug 2012 11:43:58 +0530 Fri, 10 Aug 2012 11:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=1848 Advance tax is payable when assessed tax meets the statutory threshold, with exemptions for certain resident senior citizens and presumptive taxpayers; taxpayers self estimate and pay by prescribed instalments (different schedules for companies and others), may be ordered to pay by the Assessing Officer in Form 28 and may file revised estimates in Form 28A. Interest at a monthly rate applies for failure to pay or for shortfalls, and competent authorities may reduce or waive penal interest in specified circumstances; electronic payment rules and PAN usage apply for certain taxpayers. Articles Income Tax Fri, 10 Aug 2012 11:43:58 +0530 https://www.taxtmi.com/article/detailed?id=1848