New Delhi, June 12 -- The first advance tax instalment deadline of FY 2026-27 falls on June 15, by which eligible taxpayers are required to pay a portion of their estimated tax liability for the year. Advance tax follows a "pay as you earn" approach, under which taxes are paid in installments throughout the year.

The system is designed to spread tax payments across the year and applies to taxpayers whose estimated tax liability for the financial year exceeds Rs.10,000 after accounting for TDS and TCS credits. However, not every taxpayer is liable to pay advance tax and only certain categories should pay it.

Any taxpayer, including salaried individuals, freelancers, and businesses is required to pay advance tax if their estimated tax lia...