IT_ADV_TAX_Q1 · quarterly Return

Advance Tax Q1 (15%): Due Date, Checklist & Penalty Details

Statutory filing schedule, legal sections under Income-tax Act, 1961, client document requirements, and late filing consequences for Indian practitioners.

AI Overview Direct Answer

The 1st instalment of Advance Tax (15% of estimated total tax liability) is due on 15th June. Deferment or shortfall attracts simple interest at 1% per month for 3 months under Section 234C.

Section: Section 208, 209 & 211 · Regulator: CBDT · Reviewed by: FCA Tax Practitioner

Statutory Act & Section

Section 208, 209 & 211

Income-tax Act, 1961

Standard Due Date

Day 15 following quarter end

Subject to statutory holiday extensions

Who is required to file?

Taxpayers whose estimated net tax liability exceeds ₹10,000.

Statutory Penalty / Late Fee

Interest u/s 234C

Client Document Collection Checklist

Required records to collect from the client before filing Advance Tax Q1 (15%):

CORS Template

Q1 estimated P&L

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Related INCOME TAX Compliances

ITR (Audit/Corporate)

Due: Day 31