Advance tax payment: The scheme of advance tax requires

The scheme of advance tax requires every assessee to estimate his current income and if tax liability on such estimated income exceeds the specified limit, the assessee is required to pay the estimated tax in instalments during the financial year itself. Thus, an assessee is required to pay tax as he earns and therefore the scheme of advance tax is also known as ' Pay as you Earn Scheme'. Instalments of advance tax and due dates. 211. (1) Advance tax on the current income calculated in the manner laid down in section 209shall be payable by— (a) Advance Tax , often called the “Pay as You Earn Scheme”, requires taxpayers to estimate their income for the financial year and pay taxes in instalments, instead of waiting until year-end. If your estimated tax liability exceeds Rs 10,000 in a financial year, you must pay advance tax . 1. Overview The Tax Payment through Payment Gateway option is available to all taxpayers on the e-Filing portal www.incometax.gov.in. With this service, you can make tax payment online (in pre-login or post-login mode) by using Payment Gateway which enables you to make tax payment through Credit Card, Debit Card, Net-banking and UPI. The selected payment gateway will redirect to its own page and provide all the options available with that gateway. The transaction charges as per Annexure 1 ...