advance tax payment

Tax Planning: What strategies to adopt in 2025 to manage tax outgo

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Tax Planning: What strategies to adopt in 2025 to manage tax outgo

Tax planning is a crucial component of personal finance, enabling taxpayers to minimize liabilities while complying with legal obligations. With significant changes introduced by the recent Finance (No. 2) Act 2024, understanding how to optimize tax planning for the Financial Year (FY) 2024-25 (Assessment Year 2025-26) is essential. In this article, we will discuss effective … Read more

Advance tax payment: What happens if you fail to pay tax on December 15 (Sunday)?

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Advance tax payment: What happens if you fail to pay tax on December 15 (Sunday)?

Advance tax refers to the income tax that is required to be paid in advance throughout the year, in instalments according to the designated due dates by the income tax department. It is commonly referred to as the ‘pay as you earn’ tax, and is expected to be settled in the same year in which … Read more