All those whose income falls in the tax bracket will have to mandatorily file advance tax, latest by March 15. If a person comes under the defaulters list, then he or she will be liable for interest under Section 234B and 234C. The advance tax needs to be paid by any person whose estimated liability for the year is Rs 10,000 or more. Senior citizens who do not have any income from any profession or business are not liable to pay advance tax.
In order to save yourself from the penalty, make sure you file the tax by following these steps:
Step 1: Open any internet browser of choice and search for the official Income Tax Department website, www.incometaxindiaefiling.gov.in.
Step 2: On the homepage, you will see a hyperlinked option that reads, ‘e-Pay Tax’. Click on it.
Step 3: A pop-up will open, in which two options will be mentioned. You will have to follow the one that reads, 'Click the Continue to NSDL Website button to pay Advance Tax or Self-Assessment Tax.
Step 4: The system will direct you to the Tax Information Network website maintained by NSDL for the payment of taxes. Continue to NSDL Website’.At the end of this message, there will be a tab that reads, ‘Continue to NSDL Website’; click it.
Step 5: You will be directed to new window, on which a page titled ‘e-Payment of Taxes’ will open. Select your form for payment of Advance Tax by clicking on the proceed tab.
Step 6: A form will open on a new wherein you will be asked to key-in details like name, address, PAN number, mobile number among other things. Carefully fill each and everything asked. Once done click on proceed
Step 7: You will now be taken to a new page where you will be given the option to make the payment. After you have successfully made the payment, a receipt will be generated on a new page
Step 8: Download and take a print of the receipt for future reference.
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